ABN Amro downgraded its recommendation on Scottish & Newcastle to an outright sell after Thursday’s third-quarter results from Baltic Beverage Holdings, its Russian beer joint venture with Carlsberg. The broker said a ban on public consumption of beer in Russia could hit sales. The shares fell 3p on Friday to 410.5p. The Times 06/11/04 page 80 (Larger Capitalisation Shares) Financial Times (Money & Business) 06/11/04 page 21 (Market Week UK – London)