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    BATS   GB0002875804

BRITISH AMERICAN TOBACCO PLC

(BATS)
  Report
Delayed London Stock Exchange  -  11:35:05 2023-02-03 am EST
3125.50 GBX   +0.32%
02/02BRITISH AMERICAN TOBACCO : Goldman Sachs sticks Neutral
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FTSE 100 eases as China COVID surge knocks energy, mining stocks

11/21/2022 | 05:12am EST

(For a Reuters live blog on U.S., UK and European stock markets, click or type LIVE/ in a news window)

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Oil, mining stocks lead losses on FTSE 100

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Virgin Money surges on FY profit jump

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FTSE 100 down 0.1%, FTSE 250 adds 0.7%

Nov 21 (Reuters) - The export-heavy FTSE 100 slipped on Monday as commodity stocks fell on concerns about COVID-19 curbs in top metals consumer China, although losses were limited as a weaker pound lifted shares of internationally-focused consumer firms.

The blue-chip FTSE 100 closed the session 0.1% lower, after rising as much as 0.5% during the day.

Energy sector stocks fell 3.3%, while industrial metal miners shed 2% as oil and copper prices dipped on worries about slowing demand from the world's second largest economy.

Further weighing on crude prices was a report which said that Saudi Arabia and other OPEC oil producers are considering a half-million barrel daily output increase.

"Markets are really moving into safe havens because of China COVID curbs. You're seeing healthcare and utilities being up while the most Chinese sensitive stocks are selling off the most", Patrick Armstrong, chief investment officer at Plurimi Wealth, said.

China is fighting numerous COVID-19 flare ups, from Zhengzhou in central Henan province to Chongqing in the southwest.

Drugmakers AstraZeneca and GSK rose 1.4% and 2.1%, respectively. Unilever, Diageo and British American Tobacco, with significant dollar revenues, gained between 1.1% and 1.8% as the pound fell.

Meanwhile, market participants digested a recent set of hawkish comments from Federal Reserve officials which quashed hopes of smaller interest rate hikes after soft inflation data in October.

"Markets are just kind of waiting for some fresh checklist and there isn't really clear direction in terms of what's happening with the U.S. inflation," said Giles Coghlan, chief market analyst at HYCM.

Investors were also still assessing British Finance Minister Jeremy Hunt's budget speech last week when he unveiled higher taxes and spending curbs in an effort to reassure markets that the government was serious about fighting inflation.

The domestically focussed FTSE 250 index closed the session 0.7% higher.

Among individual stocks, Virgin Money jumped 14.9%, topping the midcaps, after the lender reported a 43% increase in full-year profit as Bank of England rate hikes lifted its finances ahead of a likely prolonged economic downturn.

The world's largest contract caterer Compass Group slipped 1.4% after its underlying operating margin expectations for full-year 2023 fell short of market expectations. (Reporting by Shashwat Chauhan and Shristi Achar A in Bengaluru; Editing by Dhanya Ann Thoppil and Alexander Smith)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ASTRAZENECA PLC 3.20% 10578 Delayed Quote.-5.71%
BRENT OIL -2.83% 79.73 Delayed Quote.-3.41%
BRITISH AMERICAN TOBACCO PLC 0.32% 3125.5 Delayed Quote.-4.75%
COMPASS GROUP PLC 2.15% 1926 Delayed Quote.0.44%
DIAGEO PLC 0.90% 3578.5 Delayed Quote.-1.96%
FTSE 100 1.04% 7901.8 Delayed Quote.4.94%
FTSE MID 250 INDEX -0.10% 20593.46 Delayed Quote.9.34%
GSK PLC 0.85% 1439.6 Delayed Quote.0.14%
UNILEVER PLC 1.68% 4171 Delayed Quote.-0.26%
VIRGIN MONEY UK PLC 3.54% 194.55 Delayed Quote.6.84%
WTI 0.00% 73.419 Delayed Quote.-4.63%
All news about BRITISH AMERICAN TOBACCO PLC
02/02BRITISH AMERICAN TOBACCO : Goldman Sachs sticks Neutral
MD
02/02Goldman Sachs Cuts British American Tobacco PT, Keeps Neutral Rating
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01/31FTSE 100 Closes Down 0.17% Dragged by Miners, Oil Stocks
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Financials
Sales 2022 27 918 M 33 766 M 33 766 M
Net income 2022 6 631 M 8 019 M 8 019 M
Net Debt 2022 38 261 M 46 275 M 46 275 M
P/E ratio 2022 10,6x
Yield 2022 7,48%
Capitalization 69 687 M 84 283 M 84 283 M
EV / Sales 2022 3,87x
EV / Sales 2023 3,67x
Nbr of Employees 54 365
Free-Float 84,2%
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Mean consensus BUY
Number of Analysts 18
Last Close Price 3 125,50 GBX
Average target price 3 958,65 GBX
Spread / Average Target 26,7%
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Managers and Directors
Jack Marie Henry David Bowles Chief Executive Officer & Executive Director
Tadeu Luiz Marroco Finance Director & Executive Director
Luc Jobin Chairman
David O'Reilly Director-Scientific Research
Syed Javed Iqbal Director-Digital & Information