UPDATE: UK Pub And Tobacco Sectors Welcome Budget Duty Freeze
22nd Jun 2010 14:07
(Adds detail) LONDON (Dow Jones)--The U.K. government's decision to freeze alcohol and tobacco duty was welcomed by the tobacco and pub sectors Tuesday, while a rise in sales tax to 20% was described as "understandable" given the nation's finances. "We welcome the coalition government's dec
Read moreUK Pub And Tobacco Sectors Welcome Budget Duty Freeze
22nd Jun 2010 13:59
LONDON (Dow Jones)--The U.K. government's decision to freeze alcohol and tobacco duty was welcomed by the tobacco and pub sectors Tuesday, while a rise in sales tax to 20% was described as "understandable" given the nation's finances. "We welcome the coalition government's decision not to increa
Read moreBAT Makes Tender Offer For 3.625% 2012 Bonds
17th Jun 2010 11:24
LONDON (Dow Jones)--British American Tobacco PLC (BATS.LN) said Thursday it is making a tender offer for its EUR750 million, 3.625% bonds due 2012. In a regulatory notice, the company said it is making a cash offer via joint dealer-managers BNP Paribas SA, Deutsche Bank AG, HSBC Holdings PLC, JP
Read moreRussia Plans Tax Increases For Alcohol, Cigarettes -Vedomosti
9th Jun 2010 22:50
DOW JONES NEWSWIRES Russia's Finance Ministry has proposed big increases in excise taxes on liquor and cigarettes starting next year, business daily Vedomosti reports Thursday. The ministry would raise the tax on hard alcohol in 2011, 2012 and 2013, causing the price of a liter of the cheap
Read moreThursday tips round-up: BAT Industries, Fenner, Stagecoach
29th Apr 2010 06:37
British American Tobacco signalled that consumers continue to cut back on smoking cigarettes globally, despite the recession drawing to a close in many of its markets. BAT shares trade on a 2011 price-earnings ratio of 11.1, which is a premium to rival Imperial Tobacco. Therefore, despite the expec
Read moreLondon close: S&P puts spanner in the works
28th Apr 2010 17:09
For the second day in a row the debt ratings agency Standard & Poor's has sent markets into a late swoon, this time with a downgrade on Spanish sovereign debt. Standard & Poor's (S&P) cut its long-term sovereign credit rating on Spain, saying the country is likely to see an extended period of subd
Read moreLondon afternoon: Footsie in positive territory
28th Apr 2010 14:40
The FTSE 100 is now in positive territory as heavily weighted index constituents such as Shell, BP, HSBC and Glaxo make headway, but the FTSE 250 index remains in the red. Higher oil prices helped Royal Dutch Shell post a sharp rise in earnings in the first quarter of 2010. Profit jumped to $4.9bn
Read moreLondon midday: Stocks off the bottom
28th Apr 2010 12:13
Blue-chips are beginning to recover their poise, helped by demand for heavyweight oil stocks in the wake of better than expected results from Shell, and a positive reaction to results from Glaxo, released at noon. Higher oil prices helped Royal Dutch Shell post a sharp rise in earnings in the first
Read moreLondon open: Footsie heading lower
28th Apr 2010 08:51
Footsie has opened lower though losses so far are not anywhere near the scale seen on Wall Street and Asia overnight. Concern over the state of the eurozone economy may mean more weakness later but for now investors seem happy to wade through an avalanche of results and trading updates. Oil groups
Read moreLondon pre-open: Prepare for weak start
28th Apr 2010 07:36
Further losses are predicted for Wednesday as investors continue to fret about the state of the eurozone economy, although an avalanche of results may prove a distraction. London fell 2.6% on Tuesday after Standard & Poor's decided to cut its credit rating on Greece to junk status and lowering its
Read moreBAT cigarette sales fall in Q1
28th Apr 2010 07:03
British American Tobacco did well in the first quarter despite weaker volumes, helped by last year's acquisition of Indonesia's Bentoel and currency moves. The world's second largest tobacco company said revenue for the three months grew in constant currency terms across all regions, and was partic
Read moreBATS sells Belgian business
7th Apr 2010 16:30
Tobacco group British American Tobacco has agreed to sell its Belgian distribution business, Lyfra, to Luxembourg-based Landewyck Group, for an undisclosed sum. At the end of 2009 the Lyfra business had gross assets of €39m and a turnover of €696m in 2009. Landewyck Group is best known for its ci
Read moreNon-exec buys initial stake in Aberdeen
17th Mar 2010 16:02
Aberdeen Asset Management non-executive director Gerhard Fusenig has bought his first shares in the fund manager since he was appointed to the board on 8 October 2009. Fusenig invested nearly £129,000 in 100,000 shares, which cost 128.84p each. Fusenig is Co-Chief Operating Officer of Asset Mana
Read moreFTSE 100 movers: Footsie ahead despite ex-dividends
10th Mar 2010 16:19
Resources companies and banks are heading the risers on the Footsie, while the forward momentum has been held back by a raft of companies going ex-dividend. Rising copper prices have boosted the shares of Fresnillo, Eurasian Natural Resources and Xstrata. RBS upgraded oil services provider Petro
Read moreLondon close: Overseas concerns sink Footsie
25th Feb 2010 16:28
Blue chips closed sharply lower as fears about Greece resurfaced and US dole claimant figures were worse than expected. On a busy day for big company results RBS hogged the headlines. The part-nationalised bank saw its net attributable loss narrow markedly in 2009 with fourth quarter impairments 5%
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