Pernod Ricard was the biggest faller among the Paris large caps on Wednesday after Pierre Pringuet, chief executive, said it was too early to call a recovery in the industry, citing continued destocking and weak consumer demand.
However, the French spirits group, which launched a €1bn rights issue last month, reported slightly better sales for April than for March. Shares in Pernod Ricard – which owns Absolut vodka – fell 1.7 per cent to €44.25.
