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Tobacco stocks fall on weak sales data

Tobacco stocks fall on weak sales data

Tobacco shares tumbled on industry sales figures from consumer insights company Nielsen, which offered a bleak picture in the US for the four weeks to mid-May. Cigarette sales by value fell 6.9 per cent here according to Nielsen, and 11.2 per cent by volume. Total nicotine sales dropped 7 per cent, while the nascent e-cigarette market fared little better, with growth having slowed to 59 per cent.

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