Diageo jumps as CEO Lewis maps out America turnaround and $8bn cash target

Diageo PLC (LSE:DGE) shares jumped 6.3% to 1,744.9p after the booze maker reported higher underlying profit despite lower sales, with chief executive Dave Lewis setting out new strategic priorities for the coming three years. Organic net sales fell 2% in the year to 30 June, with volumes down 0.4% and an unfavourable price and product mix reducing sales by 1.6%.