LIVE MARKETS-Carlsberg a winner from northern World Cup runs

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CARLSBERG A WINNER FROM NORTHERN WORLD CUP RUNS

The World Cup is nearly at an end, and the statisticians are totting up the key data: who’s been drinking the most beer.

Morgan Stanley said on Thursday that Carlsberg is the biggest beer brand beneficiary of the tournament so far versus expectations.

It's been supported by deep runs from Northern and Western European countries France, Switzerland, Norway and England, where fans are partial to a Danish (or at least Danish-owned) tipple.

AB InBev has seen the most negative change in expected beer volumes compared to pre-tournament expectations. Huge markets Brazil and the U.S. exited arguably earlier than expected, meaning less demand from fans for beers like Skol, Brahma and Budweiser.

That’s despite Argentina - where AB InBev-owned Quilmes is the lager of choice - getting to the final with a comeback win over England last night.

Overall, Brazil leaving early and the U.S. perhaps failing to live up to expectations are key factors that mean the global beer volume uplift has been lower than expected, Morgan Stanley said.

The bank sees just a 17 basis point increase in volume growth versus a previous estimate of 24 basis points. Not exactly flat, but not as bubbly as hoped.

(Harry Robertson)

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