The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksBritish American Tobacco Share News (BATS)

Share Price Information for British American Tobacco (BATS)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 2,388.00
Bid: 2,387.00
Ask: 2,389.00
Change: -2.00 (-0.08%)
Spread: 2.00 (0.084%)
Open: 2,395.00
High: 2,395.00
Low: 2,383.00
Prev. Close: 2,390.00
BATS Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

LONDON BRIEFING: Flutter hails US success; Smiths names new CEO

Tue, 26th Mar 2024 08:08

(Alliance News) - London's FTSE 100 opened lower on Tuesday, as a slow start to the week continues, with investors having simmering global tensions to be mindful of.

The US, UK and New Zealand have accused Beijing-backed cyber groups of being behind a series of attacks against lawmakers and key democratic institutions - allegations that prompted angry Chinese denials.

Focus this week will also be on a US inflation reading. The latest personal consumption expenditures data is released on Friday.

"US stocks traded cautiously on Monday as the holiday-shortened week began, with investors hesitating to increase their risk exposure ahead of critical inflation data. Although all three major US indices recovered from their intraday lows, the overall sentiment remained subdued," SPI Asset Management analyst Stephen Innes commented.

"After a strong performance last week, investors may be taking a hiatus and possibly enjoying the spring break, while others are adopting a wait-and-see approach for the next bullish catalyst, such as a favourable outcome from the Fed's preferred inflation gauge. In this context, an 'all-clear' signal would entail the inflation data meeting consensus expectations or coming in lower than anticipated."

In early UK corporate news, Flutter Entertainment's annual loss widened, while Smiths Group's half-year profit ticked higher and it announced its chief executive has left the role with immediate effect.

Here is what you need to know at the London market open:

----------

MARKETS

----------

FTSE 100: down 0.3% at 7,895.02

----------

Hang Seng: up 1.0% at 16,624.84

Nikkei 225: closed marginally down at 40,398.03

S&P/ASX 200: closed down 0.4% at 7,780.20

----------

DJIA: closed down 162.26 points, 0.4%, at 39,313.64

S&P 500: closed down 15.99 points, 0.3%, at 5,218.19

Nasdaq Composite: closed down 44.35 points, 0.3%, to 16,384.47

----------

EUR: up at USD1.0843 (USD1.0838)

GBP: up at USD1.2652 (USD1.2643)

USD: down at JPY151.31 (JPY151.41)

Gold: down at USD2,173.74 per ounce (USD2,176.03)

(Brent): down at USD85.85 a barrel (USD86.06)

(changes since previous London equities close)

----------

ECONOMICS

----------

Tuesday's key economic events still to come:

12:30 GMT US durable goods orders

13:00 GMT US house price index

14:00 GMT US Conference Board consumer confidence

14:00 GMT US Richmond Fed manufacturing index

----------

In rare and detailed public accusations against China, a trio of Washington, London and Wellington described a series of cyber breaches over the last decade or more, in what appeared to be a concerted effort to hold Beijing accountable. The US Justice Department charged seven Chinese nationals over what it said was a 14-year "prolific global hacking operation" designed to aid China's "economic espionage and foreign intelligence objectives." Washington said a unit, dubbed APT31, was behind the attacks, describing it as a "cyberespionage program" run by China's powerful Ministry of State Security out of the central city of Wuhan. With Britain expected to hold a general election within months, UK Deputy Prime Minister Oliver Dowden also made a shock announcement that "a Chinese state-affiliated entity" had likely "compromised" the country's Electoral Commission.

----------

BROKER RATING CHANGES

----------

Deustche Bank raises Kingfisher target to 245 (225) pence - 'hold'

----------

COMPANIES - FTSE 100

----------

Paddy Power owner Flutter Entertainment reported a pretax loss for 2023 of USD1.09 billion, widening from USD295 million in 2022, despite revenue rising 25% to USD11.79 billion from USD9.46 billion. Costs of sales rose 29% to USD6.20 billion from USD4.81 billion, sales and marketing expenses up 26% to USD3.78 billion from USD3.01 billion, while general and administrative expenses were up 37% to USD1.60 billion from USD1.17 billion. Adjusted earnings before interest, tax, depreciation and amortisation grew 45% to USD1.87 billion, however. "As anticipated, our number one position in the US has transformed the group's earnings profile during 2023 as FanDuel delivered a positive US full year adjusted Ebitda for the first time," Chief Executive Peter Jackson said. In 2024 trading to-date, it said revenue was up 23% from the equivalent period a year earlier. Looking ahead, it expects 2024 revenue growth of around 18% from a year earlier and further adjusted earnings before interest, taxes, depreciation and amortisation growth of 30%.

----------

Engineering company Smiths Group reported pretax profit rose 2.4% in the six months ended January 31 at GBP171 million from GBP167 million a year earlier. This was as revenue improved 0.7% to GBP1.51 billion from GBP1.50 billion. It raised its interim dividend by 5.0% to 13.55 pence compared to a year earlier. This was alongside unveiling a GBP100 million share buyback programme, in which the first tranche of up to GBP50 million will be completed by the end of September. Looking ahead, it reaffirmed its financial 2024 organic revenue growth guidance of between 4% and 6%. Outgoing Chief Executive Officer Paul Keel commented: "We expect growth to improve in the second half, driven by a record order book for Smiths Group, continued strength in end markets like aerospace, security and energy, as well as gradually improving conditions in the industrial segments that were softer in the first half." Smiths announced that Keel has decided to step down as CEO with immediate effect, as he is returning to the US where most of his family is based to take on a new role as CEO of a US public company. Roland Carter has been named as Keel's successor at Smiths Group, also effective immediately. Since 2018, Carter has led the Smiths Detection division. "Here he has been instrumental in developing its order book that has grown to be the largest in its history," the company said.

----------

The boss of British American Tobacco has said a ban on disposable vapes in the UK will not be "effective", claiming similar legislation overseas has not worked. Last week, the government introduced legislation aimed at curbing youth smoking, with the tobacco & vapes bill restricting the sale of tobacco so that anyone turning 15 this year, or younger, will never legally be sold cigarettes. It will effectively raise the age of tobacco sale by one year every year, with the aim of stopping today's youngsters from ever taking up smoking in the first place. However, Tadeu Marroco, chief executive of BAT, told the BBC similar legislation introduced overseas had only pushed people to the illegal market.

"In other countries this hasn't been effective," he said. "In Australia they have banned the whole category, and the amount teenagers use in the illegal market is very high. The same is happening in Brazil."

----------

COMPANIES - FTSE 250

----------

Housebuilder Bellway reported pretax profit more than halved to GBP117.4 million in the six months ended January 31 from GBP305.9 million a year earlier. This was in line with revenue falling 30% to GBP1.27 billion from GBP1.81 billion. It reduced its interim dividend payment by 64% to 16.0 pence per share from 45.0p a year earlier. During the half-year period, housing completions fell 28% to 4,092 from 5,695. Chief Executive Officer Jason Honeyman commented: "Although the economic backdrop remains uncertain, the gradual reduction in mortgage interest rates throughout the first half has helped to ease affordability constraints and we have been encouraged by the improvement in reservations since the start of the new calendar year." It said it is on track to deliver volume output of around 7,500 homes for the year, down from 10,945. The CEO added: "Overall, the long-term fundamentals of the UK housebuilding industry remain attractive, given the shortage of energy efficient and affordable homes across the country. We remain confident that the group's robust balance sheet and operational strength, combined with the depth and quality of our land bank, will enable Bellway to successfully navigate changing market conditions and capitalise on future growth opportunities."

----------

OTHER COMPANIES

----------

Research and data analytics firm YouGov reported pretax profit fell 50% in the six months ended January 31 to GBP10.4 million from GBP21.0 million a year earlier, despite revenue climbing 8.9% to GBP143.1 million from GBP131.4 million. This was because administrative expenses rose 23% to GBP112.3 million from GBP91.1 million, while cost of sales rose 7.0% to GBP21.3 million from GBP19.9 million. It declared no interim dividend, unchanged from a year earlier. Looking ahead, Chief Executive Officer Steve Hatch commented: "As we enter the second half, our clients are increasingly looking for high-quality, data-driven solutions. The quality of our products and services, the accelerated sales momentum seen in the second quarter, and our robust sales pipeline gives us confidence that YouGov can achieve growth for the full year in line with current market expectations."

----------

By Greg Rosenvinge, Alliance News senior reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

More News
1 Dec 2023 09:30

LONDON BROKER RATINGS: UBS lifts Antofagasta and Anglo American to buy

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning:

Read more
29 Nov 2023 09:51

LONDON BROKER RATINGS: JPMorgan cuts Diageo to neutral from overweight

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday:

Read more
17 Nov 2023 09:55

LONDON BROKER RATINGS: Shore cuts Sage; Barclays raises NatWest

(Alliance News) - The following London-listed shares received analyst recommendations on Friday and Thursday.

Read more
14 Nov 2023 12:00

LONDON MARKET MIDDAY: FTSE 100 underperforms before US inflation

(Alliance News) - London's FTSE 100 went into Tuesday afternoon in the red, hurt by a stronger pound, though European peers were in better shape ahead of a key US inflation reading.

Read more
6 Nov 2023 15:06

BAT to make further investment in Organigram, shares surge

(Sharecast News) - Organigram shares surged on Monday after it said that British American Tobacco has agreed to invest a further CAD124.6m (£74m) into the business.

Read more
2 Nov 2023 07:53

IN BRIEF: Soraya Benchikh returns to British American Tobacco as CFO

British American Tobacco PLC - London-based cigarettes, tobacco and other nicotine products maker - Appoints Soraya Benchikh as the new chief financial officer May 1, 2024. The Diageo PLC executive will succeed Javed Iqbal, who will continue to serve as interim finance director until April 30, 2024. She joined Diageo in 2020 and she previously spent 20 years at BAT where she served as president of BAT France, area director for East and Southern Africa, and regional finance director for Europe. The CFO post was left vacant after Finance Director Tadeu Marroco was promoted as chief executive in May this year, replacing Jack Bowles.

Read more
2 Nov 2023 07:34

BAT poaches Diageo president to be new CFO

(Sharecast News) - Tobacco giant British American Tobacco said on Thursday that it is stealing back a BAT veteran from Diageo to serve as its new chief financial officer.

Read more
27 Oct 2023 15:46

UK dividends calendar - next 7 days

Monday 30 October 
no events scheduled 
Tuesday 31 October 
CT Private Equity Trust PLCdividend payment date
European Assets Trust PLCdividend payment date
Life Science REIT PLCdividend payment date
Lowland Investment Co PLCdividend payment date
Troy Income & Growth Trust PLCdividend payment date
Wednesday 1 November 
F&C Investment Trust PLCdividend payment date
Mercantile Investment Trust PLCdividend payment date
Smith & Nephew PLCdividend payment date
Thursday 2 November 
abrdn Diversified Income & Growth PLCspecial ex-dividend payment date
abrdn UK Smaller Companies Growth Trust PLCex-dividend payment date
Ashmore Group PLCex-dividend payment date
Blackrock Smaller Companies Trust PLCex-dividend payment date
CVS Group PLCex-dividend payment date
Dunedin Income Growth Investment Trust PLCex-dividend payment date
Edinburgh Investment Trust PLCex-dividend payment date
European Opportunities Trust PLCex-dividend payment date
European Smaller Cos Trust PLCex-dividend payment date
Fidelity Asian Values PLCex-dividend payment date
Gattaca PLCex-dividend payment date
Gattaca PLCspecial ex-dividend payment date
Hilton Food Group PLCex-dividend payment date
Invesco Asia Trust PLCex-dividend payment date
M&G Credit Income Investment Trust PLCex-dividend payment date
ME Group International PLCex-dividend payment date
PZ Cussons PLCex-dividend payment date
Renishaw PLCex-dividend payment date
Ricardo PLCex-dividend payment date
S&U PLCex-dividend payment date
Schroder Japan Trust PLCex-dividend payment date
Starwood European Real Estate Finance Ltdex-dividend payment date
STV Group PLCdividend payment date
Taylor Maritime Investments Ltdex-dividend payment date
TheWorks.co.uk PLCdividend payment date
Tritax Big Box REIT PLCex-dividend payment date
Whitbread PLCex-dividend payment date
Friday 3 November 
Alumasc Group PLCdividend payment date
Andrews Sykes Group PLCdividend payment date
AVI Japan Opportunity Trust PLCdividend payment date
Barratt Developments PLCdividend payment date
British American Tobacco PLCdividend payment date
Brooks Macdonald Group PLCdividend payment date
CT UK High Income Trust PLCdividend payment date
Fintel PLCdividend payment date
Games Workshop Group PLCdividend payment date
HSS Hire Group PLCdividend payment date
Johnson Service Group PLCdividend payment date
JPMorgan Multi-Asset Growth & Income PLCdividend payment date
Judges Scientific PLCdividend payment date
MP Evans Group PLCdividend payment date
M&G PLCdividend payment date
Mattioli Woods PLCdividend payment date
Mortgage Advice Bureau Holdings PLCdividend payment date
Persimmon PLCdividend payment date
Schroder Income Growth Fund PLCdividend payment date
TP ICAP Group PLCdividend payment date
Twentyfour Income Fund Ltddividend payment date
Weir Group PLCdividend payment date
Wickes Group PLCdividend payment date
WPP PLCdividend payment date
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

Read more
16 Oct 2023 12:03

LONDON MARKET MIDDAY: Stocks mixed on conflict and US earnings nerves

(Alliance News) - Global markets got off to a muted start to the week, with tensions in the Middle East, and some trepidation ahead of US corporate earnings keeping a lid on equities.

Read more
13 Oct 2023 16:45

London close: Stocks finish lower on global stability concerns

(Sharecast News) - London stocks ended on a downbeat note on Friday after a hotter-than-expected US inflation print overnight, and escalating oil and gas prices fuelled anxiety across the board.

Read more
13 Oct 2023 09:25

LONDON BROKER RATINGS: Stifel says hold S&N; JPM neutral on Deliveroo

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday:

Read more
13 Oct 2023 08:52

LONDON MARKET OPEN: FTSE 100 resilient amid downbeat global trading

(Alliance News) - Stock prices in London opened mixed on Friday, as investors continued to digest a stubborn US inflation print and the latest series of economic data from China.

Read more
13 Oct 2023 07:50

IN BRIEF: British American Tobacco names first chief people officer

British American Tobacco PLC - London-based cigarettes, tobacco and other nicotine products maker - Appoints Cora Koppe-Stahrenberg to the new role of chief people officer, with effect from November 1. Koppe-Stahrenberg will join the company's management board. She was most recently global head of human resources of Fresenius Medical Care AG & Co KGaA, a publicly listed global healthcare company.

Read more
13 Oct 2023 07:19

FDA blocks six British American Tobacco vape flavours

(Sharecast News) - Shares in British American Tobacco came under pressure on Friday, after US authorities cracked down on some of its flavoured vapes.

Read more
12 Oct 2023 21:54

US FDA calls on BAT to halt sales of some flavoured vape products

(Alliance News) - The US federal drug regulator has told British American Tobacco PLC’s US subsidiary to halt sales of its menthol-flavoured Vuse Alto vape, the most popular e-cigarette in the US, following a jump in popularity of the product among underage users.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.