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Pin to quick picksBritish American Tobacco Share News (BATS)

Share Price Information for British American Tobacco (BATS)

London Stock Exchange
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Share Price: 2,390.00
Bid: 2,391.00
Ask: 2,392.00
Change: -34.00 (-1.40%)
Spread: 1.00 (0.042%)
Open: 2,400.00
High: 2,417.00
Low: 2,390.00
Prev. Close: 2,424.00
BATS Live PriceLast checked at -

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Weak pound boosts exporters in FTSE 100; Ocado extends rally

Mon, 14th Nov 2022 17:29

Indivior up on deal to buy Opiant Pharma

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Informa lifts annual earnings view as demand improves

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UK budget, due later in the week, in focus

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FTSE 100 up 0.9%, FTSE 250 flat

Nov 14 (Reuters) -

The UK's export-oriented FTSE 100 climbed on Monday supported by a weaker pound as traders braced for the government's fiscal statement later this week and with a stronger dollar weighing on the British currency.

The FTSE 100 closed 0.9% higher, with Ocado Group up 14% and leading gains.

"Ocado saw the largest drop in short interest in October, helping the stock extend recent gains," said Victoria Scholar, head of investment at Interactive Investor.

Shares of the online supermarket and technology group have surged this month after it entered South Korea through a partnership deal with Lotte Shopping, Scholar added.

"The stock is now up more than 90% and is at the top of the FTSE 100 today as investors turn bullish on the supermarket technology business," she added.

Weakness in the pound against a strong dollar boosted export-oriented companies such as Unilever and British American Tobacco.

Sterling fell ahead of British Chancellor Jeremy Hunt's autumn statement on Thursday, when he is expected to set out tax rises and spending cuts.

"The UK government is still on a report card, being closely monitored after the perceived economic bad behaviour of the short-lived (Liz) Truss administration," said Susannah Streeter, markets analyst at Hargreaves Lansdown.

"That's why Prime Minister Rishi Sunak and his Chancellor Hunt have been priming the nation this weekend to expect widespread tax increases, and a cut back of spending in the Autumn Statement."

Informa Plc jumped 5.8% on raising its full-year earnings outlook, pushing the broader FTSE 350 media index 1.5% higher.

Indivior gained 2.4% after it said it would acquire Opiant Pharmaceuticals for approximately $145 million in cash. The broader healthcare index was up 2.5%.

British miners added 0.6% as copper prices jumped on the Chinese government offering support to its battered property sector, which consumes a vast amount of metals.

The domestically-focused FTSE 250 midcap index was subdued by the close after marking its biggest weekly gain in almost two years on Friday. (Reporting by Shashwat Chauhan and Bansari Mayur Kamdar in Bengaluru; editing by Uttaresh.V and Ken Ferris)

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1 May 2024 08:45

IN BRIEF: British American Tobacco makes GBP173 million in buybacks

British American Tobacco PLC - London-based cigarette and vaping products maker - Buys back 7.4 million shares between March 18 and Tuesday, worth about GBP173 million at the current market price. This is part a GBP700 million buyback programme planned for 2024, which will be followed by a GBP900 million buyback in 2025. Commissions Merrill Lynch to conduct the next tranche of the 2024 buyback, running from Wednesday to June 21.

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29 Apr 2024 13:38

IN BRIEF: BAT subsidiaries raise bond buyback offer to GBP1.2 billion

British American Tobacco PLC - London-based maker of cigarettes and vapes - Says its subsidiaries BAT Capital Corp and BAT International Finance PLC have increased the maximum purchase price of bond they intend to buy back to GBP1.2 billion from GBP1 billion. The tender offers will expire on May 13, unless extended or earlier terminated. BAT has said this repurchase seeks to optimise its debt capital structure, with units using available liquidity to reduce debt.

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Biden administration delays plan to ban menthol cigarettes

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Comments and questions to newsroom@alliancenews.com
  
A full 14-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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24 Apr 2024 12:48

TOP NEWS: BAT keeps guidance despite economic pressures, illicit trade

(Alliance News) - British American Tobacco PLC is maintaining its 2024 guidance even as the cigarette producer grapples with "macro-economic pressures" and "illicit" trade, while carrying on with its investment in the US.

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Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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UK smoking ban for younger generations passes first parliamentary hurdle

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IN BRIEF: BAT units start buying back bonds worth up to GBP1 billion

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