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BUZZ-Heineken rises on Goldman upgrade to "buy"

Reuters - UK Focus

** Shares (Berlin: DI6.BE - news) of Dutch brewing group Heineken (Other OTC: HEINY - news) rise as much as 2.3 pct on Wednesday, after Goldman upgrades two notches to buy.

** Goldman Sachs (NYSE: GS-PB - news) , which previously had a "sell" on the stock, says Heineken's valuation discount to European consumer staples no longer justified given a brighter growth outlook.

** Heineken's shares outperforming the STOXX European Food and Beverage Index which is up 0.8 pct.

** SABMiller (LSE: SAB.L - news) reported 3 pct drop in Q2 beer volumes on Wednesday.

(RM (LSE: RM.L - news) : robertjan.bartunek.thomsonreuters.com@reuters.net)