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British American Tobacco unfiltered on Friday
With inflation on the rise, BATS virtues as a classic defensive stock are being realised by those investors not put off by its line of business
Company
British American Tobacco PLC
LON:BATS
British American Tobacco is the world’s second largest quoted tobacco group by global market share, with brands sold in more than 180 markets.
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British American Tobacco rhetoric surprises leading broker
Deutsche rates the shares a ‘buy’ up to £40, around 13% ahead of the market consensus
British American Tobacco: Who has the stomach for this bargain-bucket sin-stock?
Tobacco stocks split investor opinion, even when they're really 'cheap'.
As BAT puffs moves into cannabis products, does it know something we don't?
CEO Jack Bowles said cannabis-related products are likely to be part of the group’s future growth
BAT sees boom in new category revenues but margins slip
The cigarette maker said revenues from its new category products, which include glo, Vype and Velo, surged 50% in the first half amid a strong uptick in customers
British American Tobacco ups revenue forecast as non-tobacco products pick up
Currency movements will take off some of the gains due to the weak dollar
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FTSE 100 ends positive with coal miner Thungela Resources leading the way
The UK blue chip index ended in positive territory but US investors remain cautious
British American Tobacco to provide update in the shadow of vulture fund investor
Trading updates and results are also expected from Ferugson, OnTheMarket, Oxford Instruments and Paragon Banking
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BAT, SSP and Ted Baker among key names in coming week
There may also be interest in the macro diary with US inflation figures and UK GDP data due towards the end of the week
BAT and Imperial Brands ask court to stub out Malawi exploitation proceedings
The two tobacco giants are asking the High Court in London to strike out a case brought by thousands of tobacco tenant farmers, who allege that both of the companies are liable for negligence and have been unjustly enriched by systemic expl
No smoke without fire as vulture fund quietly builds stake in BATS and IMPS
Kenneth Dart has been quietly building stakes in Britain's two listed companies - both of them deeply unfashionable stocks.
BAT revenue growth comes in ahead of guidance despite pandemic disruption
The Pall Mall and Lucky Strike maker delivered revenue growth of 3.3% in 2020, above its guidance range of between 1-3%
Poundland owner Pepco Group to float on Warsaw Stock Exchange
The retailer will appoint Richard Burrows, current chair of cigarette giant British American Tobacco, as its new chair
Nicotine risks in price of BAT and Imperial Brands suggests Credit Suisse
The US generates c50% of BAT’s profits and c30% of IMB’s
BAT’s investment in heated tobacco products could slow down investors returns, warns JP Morgan
The bank said although medium-term gains from HTPs will mostly come from outside of BATs “key tobacco profit pools”, there were several near term risks including a weaker first half, disappointing share buybacks and a weaker than expected p
BAT’s cannabis moves under appreciated, says broker
Analysts at Jefferies said the company's 20% stake in Canadian cannabis group OGI could provide a “sizeable upside” if it gains a foothold in the US market
British American Tobacco helped by higher prices as volumes drop
Profits for the year to end-December rose by 10% to £8.7bn helped by £660mln of cost savings.
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BAT, Rio Tinto and Plus500 dominate Wednesday’s diary
The macro calendar will also draw some attention mid-week with UK inflation data expected alongside the latest minutes from the Federal Reserve
BAT appoints new operations director
Zafar Khan, currently in charge of operations for the cigarette maker’s vaping and other new categories, is being promoted to fill the role
BAT gets good news from fraud squad over Africa corruption probe
The Serious Fraud Office said it could not smoke out sufficient evidence
British American Tobacco to start clinical trials on COVID-19 vaccine candidate
The plant-based jab is being developed by the firm's US biotech arm, Kentucky BioProcessing
British American Tobacco trims earnings guidance despite strong cigarette sales
The group committed to growing its dividend in sterling terms, supported by a liquidity position that remains strong
BAT grabs nicotine pouch maker Dryft to expand US 'modern oral' range
The pouches will be included under BAT’s VELO brand and will include a range of nicotine strengths and flavours
British American Tobacco appoints Luc Jobin as new chairman
Luc Jobin will replace Richard Burrows who is stepping down after the FTSE 100-listed firm's AGM next year
Imperial Brands and BAT could buy back whole market caps in 7-9 years
RBC Capital Markets has upgraded its ratings for both tobacco companies
British American Tobacco announces new president for US business Reynolds American
Ricardo Oberlander has stepped down to pursue other opportunities after three decades at the firm
British American Tobacco expects revenue growth despite global volume decline
The FTSE 100-listed cigarette maker said it remains committed to its 65% dividend pay-out ratio
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FTSE 100 closes underwater as PM 'squeezes brakes' on reopening, Wall Street wobbles
The index of UK blue-chip shares has dropped 92 points on Friday
BAT downgraded by Jefferies, while Imperial Brands gets price hike
Reports of the death of tobacco have been greatly exaggerated, the analysts believe
BAT initiated at ‘buy’ as Goldman says firm well-placed to emerge as industry leader
The bank said they expected BAT to “emerge a relative leader” in next generation products such as vapes and e-cigarettes, which in turn would drive growth
British American Tobacco sales hit by coronavirus lockdowns in emerging markets
South Africa is imposing a coronavirus-related tobacco sales ban, while lockdowns in Mexico and Argentina have lasted longer than expected
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FTSE 100 tanks over 2% as global economic cost of pandemic begins to sink in
Britain's benchmark index closed on Tuesday down over 136 points down, or 2.12%, at 6,335
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British American Tobacco and housebuilders in focus on Tuesday
It is likely to be a quiet day in terms of macroeconomic data
Tobacco dividends among “safest in the market” - analyst
Analysts at Deutsche Bank suggested that in coming weeks there may be political, ethical or even investor pressure for many companies “not to increase their dividends”
BAT begins development of potential coronavirus vaccine using tobacco plants
If testing goes well, the maker of Lucky Strike and Pall Mall cigarettes said it could manufacture between 1mln-3mln doses of the vaccine per week from June
British American Tobacco shares positive as financials land mostly ‘in-line’
Whether slightly above or slightly below, practically all BAT's key financial metrics were close or in-line with market expectations.
Archive
FTSE 100 plunges 3.5% as coronavirus stock chaos continues
"Stocks, the old saying has it, take the stairs up and the lift down, and this has been brutally demonstrated over the past week," said Chris Beauchamp, chief market analyst at IG
BAT upgraded as Morgan Stanley says risk from US regulation has “abated”
The bank said they saw “strong growth in the near term driven by strong pricing and ongoing cost savings”, however regulation could present risks further down the line
British American Tobacco says to comply with new US vaping regulations
The US Food and Drug Administration is tightening regulations around vaping to make it less appealing to kids
BAT's strong cigarette sales offset weaker vapes
The big tobacco company's full-year guidance is for revenue growth at the upper half of its 3-5% long term guidance range
Archive
Compass and BAT on the menu in coming week
Other results and updates in the week are expected from Marston's, On The Beach, LondonMetric Property, Amigo Holdings, Reach and Topps Tiles
FDA plans to ban flavoured e-cigarettes could be a positive for BAT
US regulators have proposed the ban to combat a rise in both underage vaping and a recent rise in respiratory illnesses linked to e-cigarettes
BAT unveils plans to cut 2,300 jobs
Jack Bowles, BAT’s new chief executive, said the plans would likely affect around 20% of the company's senior roles
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FTSE 100 closes in the red as Wall Street retreats, hopes of a Brexit deal boosts sterling
Against the US dollar, the pound was up over half a percent to $1.2287
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Last 'super Thursday' before Brexit as BoE, Shell and LSE updates eyed
On 1 August, other half-year updates include British American Tobacco, Barclays, Standard Chartered and Capita
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Week ahead preview: Lloyds, Barclays, RBS, BT Group, BoE and US Fed
It will be a busy week for markets with a barrage of corporate earnings and interest rates decisions from the Bank of England and the US Federal Reserve.
Investments and investor services
FTSE 100 joins other global markets to head lower as trade fears linger
The UK's blue-chip benchmark index closed out around 42 points lower at 7,493
Investments and investor services
FTSE 100 closes firmly higher as trade optimism boosts sentiment
The Footsie closed up over 61 points at 7,559. The FTSE 250 closed up around 24 points higher at 19,659.
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FTSE 100 closes Thursday in red as tensions mount ahead of G20
Footsie retailers did well, with B&Q owner Kingfisher (LON:KGF) top dog on the exchange
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Serco's acquisitions and contract wins will be in focus on Thursday
Serco has already flagged that it expects its strong order intake to boost revenue in 2019 after several years of declines.
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News from FirstGroup, Stagecoach to drive corporate diary in coming week
Aside from the two mid-cap transport operators, blue chip contractor Bunzl will also issue a trading update, while the macro focus will be on the G20 meeting in Japan
Morgan Stanley warns potential law changes could stub out half of British American Tobacco's US profits
US regulators are due to propose new laws later this year aimed at reducing the amount of nicotine in cigarettes, which would likely have a big effect on BAT’s profits
British American Tobacco on track to meet full-year expectations
The FTSE 100-listed firm's full-year revenue on a constant currency basis is expected to meet the mid-upper half of the group's long-term guidance for growth of 3% to 5%
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FTSE 100 closes in the red as global equity markets lag
The UK's premier shares index finished the afternoon session off nearly 31 points at 7,367
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Blue-chip tobacco takes focus on Wednesday as BAT updates on trading
Investors in the FTSE 100 tobacco firm are likely to focus on its next-generation products as the number of cigarette and pipe smokers continues to fall
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Tesco to provide the nibbles as the markets continue to eye US trade and Tory leadership battles
Aide from Tesco's latest update, a number of lesser-known blue chip firms will also report in the Week Ahead including British American Tobacco, Ferguson, DS Smith, and Halma
Intu turns to former Crest Nicholson man to fill CFO role
Robert Allen left Crest Nicholson last year when the housebuilder issued a profit warning.
High FTSE yields point to 'dividend slaves' that may cut payouts
Grace Jones' Slave to the Rhythm might well have been about the pressure of a progressive dividend policy: 'Build on up, don't break the chain; Sparks will fly when the whistle blows'
Investments and investor services
FTSE 100 ends in positive territory, taking the cue from the Dow and data from China
"Equities have been relentlessly positive all day, with the session having started off on the front foot thanks to Chinese credit growth, which rose 10.7% over the year to hit a sum equivalent to 9% of the country’s GDP," said Chris Beaucha
Are tobacco and supermarket stocks not the “safe harbour” investments they once were?
Most safe harbour stocks have been confined to a select group of market sectors that include tobacco and food retailers, although enthusiasm seems to be waning for these once dependable stocks
Imperial Brands and BAT find gains as Citi upgrades both UK tobacco groups to ‘buy’ from ‘hold’
The Citi analysts said: “We expect organic growth will pick up this year as NGPs sales accelerate and we think the regulatory threat will probably move away from cigarettes”
Archive
FTSE 100 closes higher at traders focus on Federal Reserve's dovish tone
The FTSE 250 though, seen as a better indicator of the state of UK companies, closed down around 41 points at 19,347.
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Clothes retailers Next and Ted Baker in the spotlight on Thursday
Not much excitement is expected from the Bank of England, so investor attention will instead be on two of the UK’s troubled clothes retailers: Ted Baker and Next
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Retail results to vie with 'Meaningful' Brexit vote, UK, US rate decisions, and key data
DIY stores owner Kingfisher, clothing retailer Next, plus troubled fashion firm Ted Baker will report full-year results, with trading updates due from internet grocer Ocado and online fashion group ASOS
British American Tobacco’s Canadian subsidiary granted creditor protection
The protection means ITCAN won’t have to pay out any of the billions of dollars of damages awarded to a group of Quebec smokers for the time being
Shares in BAT and Imperial Brands light up as industry opponent quits the FDA
During his time at the regulator, chief commissioner Scott Gottlieb has served as a thorn in the side of big tobacco, having previously led efforts to ban menthol cigarettes and curb e-cigarette use among teenagers
BAT to make around £436mln provision after Quebec court upheld 2015 decision against Canadian unit
As part of the 2015 decision, ITCAN was required to place C$758mln (approximately £436mln) in escrow and BAT said its board have determined that that asset's recoverability is "less than virtually certain”
BAT says “extremely disappointed” Quebec class action lawsuit judgment against Canadian subsidiary not overturned
A spokesperson for BAT said: “We are still of the view that this decision is wrong - ignoring the reality that both adult consumers and government have known about the risk associated with smoking for decades"
BAT posts solid 2018 results but US regulation, Canada class action appeal a drag
For the full year ended 31 December 2018, the FTSE 100-listed firm saw its adjusted operating profit rise by 4% on a constant currency basis to £10.34bn
FTSE 100 closes lower as Chinese data dents sentiment
The UK's premier share index closed down around 32 points at 7,074
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IAG, Rolls Royce and British American Tobacco on the agenda for busy blue chip Thursday
Its set to be a busy day for blue-chip news in London on Thursday.
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Hotchpotch of blue-chip results set to flow in coming week from likes of Rolls-Royce, ITV, WPP
The Week Ahead will also bring a trading update from AB Foods, plus final results from Standard Chartered, IAG, Persimmon, Rightmove, as well as the latest US GDP data
BAT shares rally, lifted by Piper Jaffray rating upgrade to 'overweight' from ‘neutral’
The US broker maintained its 3,000p target on BAT, with the shares currently trading at 2,4870, up 4.7% on Monday’s close, and said valuation appeared "attractive" at current levels
Investments and investor services
FTSE 100 closes lower as trade worries dent global equities; Ocado top Footsie gainer
A deceptively dull start by the Footsie gradually turned into something a bit more dramatic
The FTSE 100 survivors and thrivers: Who has stayed on top among the blue-chips?
Since its foundation in 1984, the FTSE 100 has become one of the key barometers of the British economy, however the makeup of its constituent companies is far from the same
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Lloyds and RBS drive FTSE 350 dividends to another record year, but is this trend sustainable?
High yields are often viewed as a warning that a company’s dividend is too high to maintain, but a new study thinks the issue lies with the value of unloved UK stocks and not their pay-outs
Stubbed out: Cowen cuts ratings for cigarette makers BAT, Imperial Brands, Altria in global sector review
Cowen’s analysts said the downgrades come as they “grow increasingly cautious on the outlook for combustible cigarettes in the US”
FTSE 100 registers triple-digit fall as US stock markets slide again
"This year’s Boxing Day bonanza could be no more than a wicked bear trap set to lure investors into more trouble.”
Investments and investor services
FTSE 100: The good, the BATS and the Ocado in 2018
For Ocado, it was a case of "eat my shorts" as short sellers got burnt while for BATS, not enough cigarettes got burnt as e-cigarettes rose in popularity
A fifth of FTSE 100 firms set to lose CEOs to retirement when Britain adjusts to life after Brexit
Rico Back, 64, is the oldest chief executive on the FTSE 100 after joining Royal Mail in early 2018
Archive
High street updates, US jobs, UK PMIs to provide focus after New Year holidays
There will be some key data from the US and UK at the start of the new year, and Christmas retail trading news will be a dominant focus notably from Next PLC
FTSE 100 closes in the red as Federal Reserve's rate hike creates jitters
"Investors aren’t willing to forgive Fed Chair Jeremy Powell yet; a soft open on Wall Street threatens to drag the FTSE lower into the close," said Fiona Cincotta at City Index
British American Tobacco maintains annual earnings guidance
The maker of Lucky Strike cigarettes said its US business was performing well with volumes in line with expectations
FTSE 100 closes higher on speculation Prime Minister May will survive Brexit-related no-confidence vote
The benchmark index also gets a boost from optimism over US-China trade talks
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Stricter regulation and margin hit from e-cigarette switch to weigh on BAT trading update
Aside from the blue-chip tobacco firm, the day ahead will also bring updates from retailers Dixons Carphone and Superdry, plus US inflation numbers
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All eyes on UK parliament as Brexit deal circus reaches final act
Aside from the crucial Brexit vote, the Week Ahead will also bring UK labour market data, an ECB council meetings and updates from TUI, WPP, Dixons Carphone, Superdry, Ocado and BAT
Jefferies thinks US menthol cig ban is unlikely; reiterates blockbuster £50 price target for BATS
BATS shares have been hammered over the past year, part of which is down to threats from the FDA that it will look to ban flavoured cigarettes
Archive
Barclays and BP dividends boost total UK payouts in third quarter, investment report reveals
Barclays was the biggest contributor to dividends in the banking sector, while the quarter also saw the first declared increased from BP since 2014 in US dollar terms
£8bn wiped from British American Tobacco’s market cap on reports FDA might ban menthol cigarettes
Citing unnamed sources, the Wall Street Journal has claimed that FDA commissioner Scott Gottlieb wants to crack down on menthol cigarettes due to their popularity with young people
FTSE 100 closes lower as political worries and trade fears put investors off
On Wall Street, the Dow Jones Industrial Average is down over 423 points at 25,565, while the S&P 500 is off around 37
FTSE 100 closes with strong gains but Budget provides little impetus for enthusiasm
The FTSE 100 closed strongly as it joined a global rebound off last weeks volatility, however the latest Budget did little to help matters along
London’s tobacco stocks puff higher as vaping firm Juul gets surprise raid from US FDA
Analysts reckon any ban or restriction on vaping in the US will benefit the likes of BATS and Imperial Brands, even though both have a small presence in the sector
Investments and investor services
FTSE 100 closes firmly lower as trade fears, bond yields and sterling rise creates perfect storm
The Footsie closed down nearly 92 points at 7,418, while the other major European benchmarks were also lower.
Investments and investor services
DFS Furniture set to release full year results, have investors already heard the worst?
DFS and Electrocomponents are set to be among Thursday's highlights.
New twist in e-cigarette saga as start-up Juul gets surprise raid from FDA
The raid today took Juul by surprise at its headquarters in San Francisco.
Archive
Jack’s store roll-out in focus as Tesco reports first half results
The week ahead includes Tesco interims, full-year earnings from DFS Furniture and Ferguson, an Electrocomponents trading update and the US non-farm payrolls report
BAT names Jack Bowles, chief operating officer of its international business to succeed Nicandro Durante as CEO
The FTSE 100-listed firm said Bowles will become CEO Designate on November 1 and will join the board on 1 January 2019
BAT confirms CEO Nicandro Durante intends to retire on 1 April 2019, says successor identified
The FTSE 100-listed firm said it has been considering successors for some time and, having reviewed a strong list of internal and external candidates over the past few months it has identified a lead candidate
Morgan Stanley initiates coverage of BAT and Imperial Brands as it signals sea change in tobacco industry
The US investment bank said that FDA regulations on nicotine content and increasing cigarette prices could accelerate declines in the combustibles market
EasyJet declines following 'sell' rating
A look at some of the biggest risers and fallers in the London market on Tuesday