[Goldman Sachs reiterates its buy rating on Nestlé] September 8th, the European consumer staples sector as a whole is doing better. Driven by Goldman Sachs reaffirming its buy rating on Nestlé and believing that it has strong investment logic, Nestlé's stock price rose by up to 2.6%. As of 9:35 a.m. CET, the stock was up 2.3%, turning its performance for the year from negative to positive. A basket of European consumer staples stocks index compiled by UBS rose about 1%. Goldman Sachs analyst Olivier Nicolai said that Nestlé's business transformation progress is in line with expectations, mainly benefiting from the accelerated growth of the relatively prosperous pet care business and the recovery of the coffee business; these two sectors together account for nearly half of the group's revenue.