LONDON, Oct 30- Imperial Tobacco has taken a 1.2 billion-pound writedown on its Spanish business as the impoverished country's smokers turn to cheaper black market cigarettes.
DIARY For South Africa corporate diary, click on For southern and South Africa diary, click on ECONOMIC EVENTS. -Reserve Bank Governor Gill Marcus speaks at Rhodes University Business School.
NAIROBI, Oct 10- The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday. NIGERIA- President Goodluck Jonathan is expected to deliver the 2013. KENYA- Central Bank of Kenya auctions 182- day Treasury bills.
helped reverse the gains made by so-called rand hedges like British American Tobacco. "The stronger rand is causing the rand hedges to come off a little bit, that's why the market is negative," said Malcolm Moller, an equities trader at Vunani Securities.
*Pick stock with high earnings quality- JPMorgan. LONDON, Oct 8- European shares fell early on Monday as investors braced for a weak third-quarter earnings season and the prospect of a greater-than-expected economic slowdown in parts of Asia. Metro was joined by British recruiter Michael Page International.
*Nomura cuts Imperial Tobacco Group PLC to reduce from neutral; price. *Nomura raises British American Tobacco PLC price target to 3506 p. Reuters Station users, click. 1580.
CANBERRA, Oct 5- Australia did not infringe tobacco companies' intellectual property rights by forcing them to sell cigarettes in plain packets, Australia's highest court said on Friday, killing off any domestic challenge to the plain-packet ruling. Tobacco giants British American Tobacco, Britain's Imperial Tobacco, Philip Morris and Japan Tobacco.
JOHANNESBURG, Oct 4- South African stocks rose for the first time in three sessions on Thursday with mining shares among the gainers as higher commodity prices and a weaker rand helped offset labour unrest in the nation's mines.
*FTSE 100 edges up 0.1 percent, lifted by bank and mining stocks. The blue-chip FTSE 100 index was up 0.1 percent, or 4.25 points, at 5,813.70 points around midday. Signs of the index holding above the 5,800 point level-- seen by many technical traders as key to propelling further gains-- have enabled modest, short-term increases on the FTSE 100 this week.
Oct 2- British American Tobacco PLC:. *JP Morgan raises British American Tobacco PLC price target to 4209 p. Reuters Station users, click. 1580.
Oct 1- British American Tobacco PLC:. *Investec raises British American Tobacco PLC to buy from hold. Reuters Station users, click. 1580.
Imperial Tobacco, one of the world’s leading tobacco companies, offers significant growth prospects as well as being one of the most defensive areas in consumer staples, Olivier de La Ferrière, fund manager at KBL Richelieu Gestion, told CNBC.com.
Goldman Sachs has been forced to delay the launch of its new corporate bond trading platform after a series of “logistical issues” beset the investment bank’s foray into electronic fixed-income trading, the Financial Times reports.
With interest rates so low, the story of 2011 was the hunt for yield. As a result, a tremendous amount of money flowed into tobacco stocks. But 2012 is a different story — at least with U.S.-based brands.
CNBC's Brian Shactman explains why investors are attracted to high dividend yielding tobacco stocks.
Apple shares plunged 9 percent on a single trade, causing it to be halted by the single stock circuit breaker rule because of volatility.
It was a bad day to be BATS. Its trading platform experienced a blunder on Apple—the highest-profile company in the world—and forced BAT to withdraw its IPO on the stock's first day of trading.
Stocks closed modestly higher Friday, but the Dow and S&P posted their worst weekly loss for the year after investors were rattled over slowdown fears in China and weak economic news from the euro zone.
Shares in the country’s third-largest exchange opened at $15.25 on Friday, falling below the company’s offering price of $16 a share. Almost immediately, volatility in the stock spiked — on news of a system problem at the exchange — and BATS halted trading on its own shares. The New York Times reports.
Take a look at some of Friday morning’s early movers: