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    BATS   GB0002875804

BRITISH AMERICAN TOBACCO PLC

(BATS)
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Europe stocks post worst day of the year; Tobacco firms weigh

04/20/2021 | 04:40am EDT

* BATS post worst session in a year

* AMS slumps 13% on reports it lost some Apple business

* Danske Bank slides on U.S. lawsuit

* IBEX down 3%, worst session since December

April 20 (Reuters) - European shares lost nearly 2% on Tuesday, after hitting record highs a day earlier, as tobacco companies weighed on London stocks and many regional indexes edged off pre-pandemic highs.

British American Tobacco and Imperial Brands fell more than 7% each following a report the Biden administration was considering requiring tobacco companies to lower the nicotine levels in all cigarettes sold in the United States.

BAT shares recorded their biggest percentage drop since March 2020.

Britain's blue-chip FTSE 100 fell 2% and logged its sharpest percentage decline in two months, while Germany's DAX was down 1.6%. Spain's IBEX dropped 2.9% for its worst session since December.

The pan-regional STOXX 600 index dropped 1.9% in its biggest one-day decline this year, accelerating losses after a lower opening on Wall Street.

After bumper earnings reports from U.S. banks last week, investors are awaiting results from mega-cap technology firms, which helped a strong U.S. market recovery last year but have lagged recently.

In Europe, profits for STOXX 600 companies are expected to jump more than 55% in the first quarter, according to Refinitiv IBES data, with much of the support coming from consumer cyclical and industrial companies.

"It's earnings and results have been fantastic, but it's starting to come at the higher end, so people are starting to think there is no more upside, how much better can it get," said ETX Capital analyst Michael Baker regarding the day's pull-back.

BMW's first-quarter earnings on Tuesday showed a much stronger bounce back than expected, helped by higher prices and strong Chinese demand.

The STOXX 600 has hit a series of all-time highs this month and climbed about 9% so far in 2021, broadly in line with New York's S&P 500.

All major indexes in Europe ended the day in the red. Travel & leisure, banks and insurers fell after strong gains this year.

Austrian sensor specialist AMS slumped almost 13% after traders cite a media report that the company has lost some Apple business.

Danske Bank lost 7.6% after the United States and the Federal Retirement Thrift Investment Board filed a claim for compensation against the Danish bank and its former chief executive Thomas Borgen.

French food group Danone slipped 1.8% after reporting a 3.3% fall in first-quarter sales as lockdowns continued to dent its bottled water and baby food sales. (Reporting by Sruthi Shankar in Bengaluru; Editing by Shounak Dasgupta and Alex Richardson)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
APPLE INC. -2.49% 122.77 Delayed Quote.-7.48%
BMW AG -3.57% 81.46 Delayed Quote.16.96%
BRITISH AMERICAN TOBACCO PLC -1.01% 2789.5 Delayed Quote.4.04%
DANONE 0.78% 57.19 Real-time Quote.5.58%
DANSKE BANK A/S -0.09% 116.25 Delayed Quote.15.50%
DAX -0.54% 15065.5 Delayed Quote.10.43%
DJ INDUSTRIAL -1.99% 33587.66 Delayed Quote.11.97%
IBEX 35 -1.20% 8900.8 Delayed Quote.11.57%
IMPERIAL BRANDS PLC -2.56% 1559 Delayed Quote.4.20%
NASDAQ 100 -2.62% 13001.633881 Delayed Quote.3.59%
NASDAQ COMP. -2.67% 13031.680793 Delayed Quote.1.11%
S&P 500 -2.14% 4063.04 Delayed Quote.10.54%
STOXX EUROPE 600 -0.68% 434.97 Delayed Quote.9.75%
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Financials
Sales 2021 25 429 M 35 726 M 35 726 M
Net income 2021 7 096 M 9 969 M 9 969 M
Net Debt 2021 38 233 M 53 715 M 53 715 M
P/E ratio 2021 9,08x
Yield 2021 7,68%
Capitalization 64 481 M 90 887 M 90 592 M
EV / Sales 2021 4,04x
EV / Sales 2022 3,81x
Nbr of Employees 56 689
Free-Float 87,1%
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Mean consensus BUY
Number of Analysts 20
Average target price 3 472,80 GBX
Last Close Price 2 817,50 GBX
Spread / Highest target 55,5%
Spread / Average Target 23,3%
Spread / Lowest Target -22,3%
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NameTitle
Jack Marie Henry David Bowles Chief Executive Officer & Executive Director
Tadeu Luiz Marroco Executive Director & Finance Director
Luc Jobin Chairman
David O'Reilly Director-Scientific Research
Marina Fagundes Bellini Director-Digital & Information
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