Shares in Diageo (DGE) sank 5.5% to £17.70 after the world’s biggest spirits company cut the first half-dividend and lowered its full-year sales and profit outlook. Share price: £17.70 (-5.5%) PE: 16x Market cap: £41.7bn Yield: 4% Grappling with a $21.7 billion net debt pile, the Guinness-to-Johnnie Walker maker’s H1 sales disappointed the market amid … Continue reading Diageo cuts guidance and slashes dividend