Pursuits
Europe Stocks Rise Before Fed Decision; SABMiller, AB InBev Gain
- SABMiller says AB InBev plans to make a takeover proposal
- Investors split on Federal Reserve's decision on Thursday
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SABMiller Plc led European shares higher, while investors count down to the Federal Reserve’s interest rate decision due tomorrow.
SABMiller soared 20 percent after saying that Anheuser-Busch InBev NV intends to make a takeover proposal. The Belgian brewer jumped 6.4 percent. Richemont gained 6.6 percent after the world’s biggest jewelry maker said five-month sales accelerated amid higher demand in Japan and Europe. Hermes International SCA added 3.8 percent. Inditex SA rose 5.9 percent after the owner of Zara reported a 26 percent surge in profit.