15 Jan 2016 09:32
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Don't have an account? Click here to register.Sector movers: Construction, tobacco and insurance stocks lead London Market higher
Wed, 27th May 2015 15:39
Construction, insurance, and tobacco shares led the London market back in to the green on Wednesday, despite the overhang of Greece's debt crisis lurking in the background.The FTSE 100 closed up 1.24% higher at 7,034.9 recouping losses from the previous session where it shed 1.2%. The Queen's speech, outlining the government's agenda, delivered few surprises, focusing on continued economic stability and an all-clear for a referendum on Britain's EU membership.In the absence of obvious macroeconomic data drivers, construction and materials companies drew in on positivity within UK confines and the outlining of an upbeat government programme, including additional housebuilding, which is unlikely to encounter any obstacles given Prime Minister David Cameron's unexpected majority in the House of Commons.Material makers Keller Group (up 3.41%), James Halstead (up 2.01%) and Galliford Try (up 1.07%) were among the beneficiaries, while CRH (up 3.60%) carried on adding to the previous session's gains ending the day 64p higher at 1840p as FTSE 100's highest riser. Housebuilders also posted gains with Persimmon (up 1.45%), Bovis (up 0.84%) and Barratt Developments (up 0.67%) all in the green.As with any recovery session, high yielding tobacco shares were on the up. Both blue chips were in the green with Imperial Tobacco Group up 3.32% or 109p at 3,393p and British American Tobacco up 1.47% or 53p at 3664.50p.Imperial Tobacco also gained after being given the green light by US trade regulators for its $4.7bn asset purchase from the merging Lorillard and Reynolds. The deal, which still must clear some smaller legal hurdles, is expected to complete within weeks.Elsewhere, non-life insurers also saw a bounce with virtually every company in the constituent index trading higher lead by Hiscox (up 3.49%), Esure (up 2.27%), RSA (up 2.08%) and Admiral (up 1.16%).On the negative side oil and gas stocks, and by extension wider commodities companies, continued to slide following bearish trends in the metals and oil markets. As the close of trading London approached, Brent front month futures contract was trading down 1.77% at $62.59 a barrel.Invariably, it dragged a plethora of oil and gas and mining shares lower with Premier Oil (down 1.95%) and Glencore (down 0.90%) bearing the brunt.Top five gainersConstruction & Materials 4,903.51 +137.90 +2.89%Gas, Water & Multiutilities 6,251.20 +148.30 +2.43% Electricity 9,970.72 +207.44 +2.12% Tobacco 44,349.86 +894.96 +2.06% Nonlife Insurance 2,145.45 +39.97 +1.90%
More News
4 Jan 2016 14:54
UK regulators license BAT e-cigarette as quit-smoking medicine
LONDON, Jan 4 (Reuters) - Britain's drug regulators have given the go-ahead for a British American Tobacco electronic-cigarette vaping device to be sold as a quit smoking medicine, the first such product to be given a drug licence in the UK. The decision to licence BAT's e-Voke product mea
Read more24 Dec 2015 11:41
23 Dec 2015 13:00
UPDATE 2-Big Tobacco faces blow as top court adviser backs EU law
* Advocate General says EU tobacco law is valid, proportionate * Opinions are non-binding but often influence rulings * Tobacco firms remain hopeful that court view will diverge (Adds comments; changes headline) By Michele Sinner and Martinne Geller LUXEMBOURG/LONDON, De
Read more15 Dec 2015 16:21
UPDATE 1-Imperial Tobacco plans to change name to Imperial Brands
(Adds details) LONDON, Dec 15 (Reuters) - Imperial Tobacco Group plans to drop "tobacco" from its name and call itself Imperial Brands, which is more in keeping with its business now, it said on Tuesday. Big tobacco companies have diversified into cigarette alternatives as the world
Read more15 Dec 2015 14:37
Imperial Tobacco to change name to Imperial Brands
LONDON, Dec 15 (Reuters) - Imperial Tobacco Group said on Tuesday it plans to change its corporate name to Imperial Brands, subject to approval by its shareholders at its annual general meeting in February. The new name "better reflects the dynamic, brand-focused business that we are now",
Read more15 Dec 2015 11:25
Imperial Tobacco may become a take-over target, Citi says
(ShareCast News) - There was a "material chance" that Imperial Tobacco would become a buy-out target, more so given its relatively low exposure to risks from emerging markets, Citi said. It also enjoyed rapidly growing dividends and its shares were trading on a low price-to-earings multiple, analyst
Read more11 Dec 2015 16:22
UPDATE 1-Dutch ban vaping for under 18s, say more harmful than thought
(Adds quote, details) THE HAGUE, Dec 11 (Reuters) - Electronic cigarettes and water pipes will be banned in the Netherlands for children under 18 from next year, the government said, after finding that the devices were more damaging to health than expected. E-cigarettes, which electri
Read more10 Dec 2015 18:04
UPDATE 2-Big Tobacco takes UK government to court over plain packaging
(Adds Imperial Tobacco barrister, EU legal challenge) By Martinne Geller LONDON, Dec 10 (Reuters) - Big Tobacco took the British government to court on Thursday, arguing that the UK's "plain packaging" law, which will take effect next May, unlawfully takes away its intellectual proper
Read more10 Dec 2015 12:12
Big Tobacco takes UK government to court over plain packaging
By Martinne Geller LONDON, Dec 10 (Reuters) - Big Tobacco took the British government to court on Thursday, arguing that the UK's "plain packaging" law which will take effect next May, unlawfully takes away its intellectual property. Companies including Philip Morris International, Br
Read more10 Dec 2015 11:15
Cigarette plain packaging to cost Big Tobacco USD5bn a year, says Goldman Sachs
(ShareCast News) - Goldman Sachs warned Big Tobacco it sees a $5bn annual profit hit from the impact of plain packaging on cigarettes, which the UK will impose next March and other countries following Australia's lead in the next few years. As a result of the long-term impact, Goldman downgraded
Read more9 Dec 2015 10:55
Big Tobacco to take on plain packaging in court
(ShareCast News) - A battle of two Goliaths is due to take place this week, as Big Tobacco takes on Westminster and its proposed plain packaging law. The regulation, which would come into force in May 2016, would see the ubiquitous shelves of colourful cigarette brands replaced with graphic pictoria
Read more