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Tobacco companies weigh on European shares

Published 20/04/2021, 08:20
© Reuters.
UK100
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FCHI
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DE40
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BATS
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DANO
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SWMA
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IMB
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GETIb
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STOXX
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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)
April 20 (Reuters) - European shares pulled back on Tuesday
after hitting record highs a day earlier, as tobacco companies
weighed on UK stocks and many regional indexes edged off
pre-pandemic highs.
Shares of British American Tobacco BATS.L , Imperial Brands
IMB.L and Swedish Match SWMA.ST fell between 1.7% and 5.6%
in early trading following a report the Biden administration was
considering requiring tobacco companies to lower the nicotine
levels in all cigarettes sold in the United States. UK's blue-chip FTSE 100 .FTSE fell 0.4%, Germany's DAX
.GDAXI was flat and France's CAC 40 .FCHI slipped 0.3%.
The pan-regional STOXX 600 index .STOXX dropped 0.2% by
0707 GMT. The benchmark has hit a series of all-time highs this
month after having climbed more than 10% so far in 2021.
French food group Danone DANO.PA slipped 0.9% even as it
kept its goal of returning to profitable growth in the second
half of 2021. Swedish medical gear maker Getinge GETIb.ST jumped 7.7%
after it posted a rise in first-quarter core profit.

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