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FTSE 100 movers: South Africa rate rise sends Old Mutual surging

Fri, 29th Jan 2016 14:50

(ShareCast News) - The FTSE 100 was back over the 6,000 mark on Friday, rising 105.69 points (1.78%) to 6,037.47 by mid-afternoon.Old Mutual topped the list after South Africa's central bank raised interest rates for the second time in two months yesterday. The bank also cut its growth forecast as it tries to offset inflation pressures by tightening policy.It came just over a month after President Jacob Zuma replaced his finance minister twice - first with a relatively unknown and inexperienced person and second with previous finance minister Pravin Gordhan. Shares in Imperial Tobacco Group were also up after analysts at Citi added the stock to its Europe Focus list. In a separate note, they pointed out that "FX works in different ways for IMT and BAT. For IMT we lift EPS by 4% for translation gains."BT Group also featured on the risers list after it said it has completed its £12.5bn acquisition of mobile network operator EE.However, the deal still faces a challenge in the form of industry regulator Ofcom, which is currently investigating whether BT should be made to spin off its Openreach arm on competition grounds. The Competition and Markets Authority gave the deal the green light earlier this month, saying it was unlikely to hurt competition. John Wotton, who chaired the CMA inquiry into the deal, said: "Since our provisional findings, we have taken extra time to consider responses in detail but the evidence does not show that this merger is likely to cause significant harm to competition or the interests of consumers. The retail mobile services market in the UK is competitive, with four main mobile providers and a substantial number of smaller operators. As BT is a smaller operator in mobile, it is unlikely that the merger will have a significant effect. Similarly, EE is only a minor player in retail broadband, so again it is unlikely the merger will have a significant effect in this market."The blue chip market's main fallers came from the energy sector as Shell and BG Group retreated, giving back gains from yesterday after oil prices stopped rising.They had both seen gains throughout the week as both companies' shareholders approved the merger deal, which is expected to be completed on 15 February, subject to the satisfaction or waiver of certain customary conditions. FTSE 100 - RisersOld Mutual (OML) 167.20p 3.59% Imperial Tobacco Group (IMT) 3,756.50p 2.81% Sports Direct International (SPD) 415.00p 2.60% Hargreaves Lansdown (HL.) 1,340.00p 2.52% Bunzl (BNZL) 1,848.00p 2.50% Barclays (BARC) 182.75p 2.44% Admiral Group (ADM) 1,767.00p 2.43% Intu Properties (INTU) 295.30p 2.43% BT Group (BT.A) 477.45p 2.41% St James's Place (STJ) 937.00p 2.40%FTSE 100 - FallersAntofagasta (ANTO) 366.40p -4.58% Glencore (GLEN) 86.89p -3.94% BHP Billiton (BLT) 656.20p -3.44% Anglo American (AAL) 267.15p -3.17% Rio Tinto (RIO) 1,662.50p -2.21% Fresnillo (FRES) 697.00p -1.69% Royal Dutch Shell 'A' (RDSA) 1,483.50p -0.77% Royal Dutch Shell 'B' (RDSB) 1,484.50p -0.77% BG Group (BG.) 1,040.00p -0.38% TUI AG Reg Shs (DI) (TUI) 1,170.00p -0.26%
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4 Jan 2016 14:54

UK regulators license BAT e-cigarette as quit-smoking medicine

LONDON, Jan 4 (Reuters) - Britain's drug regulators have given the go-ahead for a British American Tobacco electronic-cigarette vaping device to be sold as a quit smoking medicine, the first such product to be given a drug licence in the UK. The decision to licence BAT's e-Voke product mea

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24 Dec 2015 11:41

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23 Dec 2015 13:00

UPDATE 2-Big Tobacco faces blow as top court adviser backs EU law

* Advocate General says EU tobacco law is valid, proportionate * Opinions are non-binding but often influence rulings * Tobacco firms remain hopeful that court view will diverge (Adds comments; changes headline) By Michele Sinner and Martinne Geller LUXEMBOURG/LONDON, De

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15 Dec 2015 16:21

UPDATE 1-Imperial Tobacco plans to change name to Imperial Brands

(Adds details) LONDON, Dec 15 (Reuters) - Imperial Tobacco Group plans to drop "tobacco" from its name and call itself Imperial Brands, which is more in keeping with its business now, it said on Tuesday. Big tobacco companies have diversified into cigarette alternatives as the world

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15 Dec 2015 14:37

Imperial Tobacco to change name to Imperial Brands

LONDON, Dec 15 (Reuters) - Imperial Tobacco Group said on Tuesday it plans to change its corporate name to Imperial Brands, subject to approval by its shareholders at its annual general meeting in February. The new name "better reflects the dynamic, brand-focused business that we are now",

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15 Dec 2015 11:25

Imperial Tobacco may become a take-over target, Citi says

(ShareCast News) - There was a "material chance" that Imperial Tobacco would become a buy-out target, more so given its relatively low exposure to risks from emerging markets, Citi said. It also enjoyed rapidly growing dividends and its shares were trading on a low price-to-earings multiple, analyst

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11 Dec 2015 16:22

UPDATE 1-Dutch ban vaping for under 18s, say more harmful than thought

(Adds quote, details) THE HAGUE, Dec 11 (Reuters) - Electronic cigarettes and water pipes will be banned in the Netherlands for children under 18 from next year, the government said, after finding that the devices were more damaging to health than expected. E-cigarettes, which electri

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11 Dec 2015 12:27

PRESS: Tobacco Giants Start Case Opposing UK Packaging Rules - FT

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10 Dec 2015 18:04

UPDATE 2-Big Tobacco takes UK government to court over plain packaging

(Adds Imperial Tobacco barrister, EU legal challenge) By Martinne Geller LONDON, Dec 10 (Reuters) - Big Tobacco took the British government to court on Thursday, arguing that the UK's "plain packaging" law, which will take effect next May, unlawfully takes away its intellectual proper

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10 Dec 2015 12:12

Big Tobacco takes UK government to court over plain packaging

By Martinne Geller LONDON, Dec 10 (Reuters) - Big Tobacco took the British government to court on Thursday, arguing that the UK's "plain packaging" law which will take effect next May, unlawfully takes away its intellectual property. Companies including Philip Morris International, Br

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10 Dec 2015 11:15

Cigarette plain packaging to cost Big Tobacco USD5bn a year, says Goldman Sachs

(ShareCast News) - Goldman Sachs warned Big Tobacco it sees a $5bn annual profit hit from the impact of plain packaging on cigarettes, which the UK will impose next March and other countries following Australia's lead in the next few years. As a result of the long-term impact, Goldman downgraded

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10 Dec 2015 09:41

BROKER RATINGS SUMMARY: Goldman Says Sell BAT, Lowers Imperial Tobacco

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9 Dec 2015 10:55

Big Tobacco to take on plain packaging in court

(ShareCast News) - A battle of two Goliaths is due to take place this week, as Big Tobacco takes on Westminster and its proposed plain packaging law. The regulation, which would come into force in May 2016, would see the ubiquitous shelves of colourful cigarette brands replaced with graphic pictoria

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