After yesterday's attack by traders on Vodafone shares, the UK stockmarkets are climbing again, led by tobacco stock BAT.
A ratings upgrade from Deutsche Bank for British American Tobacco as well as improved sales for ITV has put a little confidence back into the FTSE 100 which was trading up around 0.4% to 4485 within the first hour. The FTSE 250 index is currently up 0.2% to 6179 while the FTSE All-Share index has gained 0.5% to 2236. British American is so far up 48p or 5.8% to 871.5p, giving the firm its highest price since the company floated in 1998. Confidence is high after the US federal antitrust office approved R.J. Reynolds Tobacco Holdings’ $3bn takeover of the BAT’s US division. ITV is also...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes