0949 GMT - Shares in Diageo rose after tariffs on products from the U.K. were less severe than feared. President Trump unveiled 10% levies on imported goods from the U.K., while the EU is subject to 20% duties. "The impact of U.S. tariffs is shifting the dynamics between U.K. and European stocks," research director at XTB Kathleen Brooks says in a note. In the FTSE 100, Diageo is among the top performers, even though the U.K. spirits maker has a large export market to the U.S. This suggests that U.K. drinks companies could be better positioned than their European counterparts, Brooks adds. Shares in Diageo are up 1.95% at 20.87 pounds. French distillers Pernod Ricard and Remy Cointreau fall 0.3% and 0.9%, respectively. (andrea.figueras@wsj.com)

(END) Dow Jones Newswires

April 03, 2025 05:49 ET (09:49 GMT)

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