STOCKS NEWS EUROPE-SAB sags as sales disappoint

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Shares in SABMiller (LSE: SAB.L - news) fall 2.9 percent to feature among top fallers on the pan-European FTSEurofirst 300 index as the British-listed brewer unveils disappointing full-year sales, triggering some profit-taking on a stock which trades at a premium to all its peers.

SABMiller posted a 3 percent rise in revenue on Tuesday, which analysts at Shore Capital describe as being below expectations.

"(W (SES: E2:OJ4.SI - news) )e would anticipate at least a small downgrade to organic expectations for the year," the analysts write in a note.

Broker Oriel Securities highlights net producer revenue was also disappointing and flags the stock's premium valuation versus peers.

SAB's shares rose 18 percent over the past three months, leaving them trading at 19.3 times the group's expected forward earnings, a premium to all its major peers, which include Belgium's Anheuser-Busch InBev, Britain's Diageo (LSE: DGE.L - news) , Denmark's' Carlsberg (Other OTC: CABGY - news) and The Netherlands' Heineken (Other OTC: HEINY - news) , Thomson Reuters StarMine data showed.

Volume on SAB's stock is a fifth of its full-day average for the past three months at 0733 GMT, compared with FTSEurofirst 300 volume of 10 percent of the index's own average.

Reuters messaging rm://francesco.canepa.thomsonreuters.com@reuters.net