Taking Stock 

Addicted to profits – Big Tobacco's latest wheeze

Mark Robinson

Addicted to profits – Big Tobacco's latest wheeze

So much for safe havens. Valuations for British American Tobacco (BATS) and Imperial Brands (IMB) were under pressure earlier this week, as the market reacted negatively to a report in the Wall Street Journal suggesting the US Food & Drug Administration (FDA) is getting ready to ban the sale of menthol cigarettes. BATS’ share price was particularly hard hit, losing 10.6 per cent of its value on the day of the announcement.

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