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Cigarette makers, AB Foods drag FTSE 100 lower; Elementis shines

Published 20/04/2021, 08:22
© Reuters.
UK100
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BATS
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IMB
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ABF
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FTMC
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ELM
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IOSP
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(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
* FTSE 100 down 0.3%, FTSE 250 up 0.03%

April 20 (Reuters) - London's FTSE 100 fell on Tuesday,
dragged down by stocks of heavyweight banking and cigarette
makers, while Associated British Foods slipped after a downbeat
first-half earnings update.
The blue-chip index .FTSE slipped 0.3%, with tobacco firms
British American Tobacco BATS.L and Imperial Brands IMB.L
declining 6% and 3.4% to the bottom of index after a media
report said the U.S. is considering a rule to cut nicotine in
all cigarettes sold in the United States to levels at which they
are no longer addictive. The Primark-owner's shares ABF.L fell 3% after it posted a
50% drop in first-half profit, hurt by COVID-19 lockdowns that
shuttered its Primark fashion stores. The domestically focussed mid-cap FTSE 250 index .FTMC
inched 0.03% higher. Chemical company Elementis Plc ELM.L
surged 16.6% after a media report it has got a fresh takeover
bid from U.S.-based Innospec Inc IOSP.O that values it at over
1 billion pounds ($1.40 billion). = 0.7143 pounds)

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