Diageo CEO buys $1 million worth of company stock

LONDON Mon Feb 3, 2014 7:02am EST

A man walks past barrels outside the Diageo Shieldhall facility near Glasgow, Scotland August 26, 2010. REUTERS/David Moir

A man walks past barrels outside the Diageo Shieldhall facility near Glasgow, Scotland August 26, 2010.

Credit: Reuters/David Moir

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LONDON (Reuters) - Diageo (DGE.L) Chief Executive Ivan Menezes bought 615,000 pounds ($1 million) of company stock last week, taking advantage of a steep decline in the share price after disappointing quarterly results.

Shares of Diageo, the world's largest spirits company, were up 1.3 percent at 18.24 pounds by 1158 GMT on Monday after disclosure of the purchase, outperforming a flat FTSE 100 index .FTSE.

(Reporting by Martinne Geller in London; Editing by David Goodman)

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