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European Stocks to Watch: Diageo

Shares in Diageo fell 2.5% as the world's largest alcoholic drinks maker held its operating profit growth target at 8% Thursday, despite upbeat sales for the recent quarter.

The U.K.-based maker of Smirnoff vodka, Johnnie Walker whisky and Guinness beer was one of the few decliners on a positive FTSE-100 in what's been a volatile month for the stock.

British beverage stocks are in focus ahead of a ban on smoking in enclosed public places Sunday, with fears smokers could be less likely to frequent pubs and restaurants.

Domestic & General (Up 11%) Shares in the electrical appliance insurer surged as the company announced it received a possible takeover offer from rival Homeserve and other interested parties.

RWE (up 0.2%) RWE was the worst performers on the Frankfurt DAX because J.P. Morgan cut its price target from 77.5 euros to 72.7 euros as a maintenance closure for two of its nuclear power stations looked set to drag on profit.

Vodafone (Up 1.5%) The FTSE-listed telecom company may be the first European company to retail Apple's new iPhone, according to Dutch technology magazine Bright.

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