Carlsberg A/S, the world’s fourth-largest brewer, snapped a six-day losing streak in Copenhagen, rising on bets its Thai partnership with Singha Corp. will add value to the stock.
Carlsberg rose as much as 1.9 percent, ending the longest losing streak since the end of March. The stock rose 1.4 percent to 521 kroner at 2:32 p.m. in the Danish capital.
Carlsberg said Sept. 28 it’s teaming up with Singha to distribute market and sell its brands in the Thailand, one of the few Southeast Asian countries where the Copenhagen-based brewer has a negligible presence. Nordea Bank AB praised the deal today and said Carlsberg is “the most attractive” of the world’s biggest brewery shares.
“The deal gives Carlsberg a good foothold in the Thai market and fits with the company’s strategy to exploit growth options in the Asian markets,” Mikkel Petersen, a senior equity adviser at Nordea Bank AB in Copenhagen, said in the note. “If Carlsberg plays its cards right in Asia, the shares may have additional growth potential.”