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

  • Reuters
  • Stock Market News
Cigarette makers, AB Foods drag FTSE 100 lower; Elementis shines

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* 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. 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. 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). ($1 = 0.7143 pounds)

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