Home Stock Market Tobacco stockpiles turned to ash after reports that the Biden administration may...

Tobacco stockpiles turned to ash after reports that the Biden administration may require a nicotine cut.

Shares of major European-listed Tobacco companies drove stocks across the region on Tuesday, following a report that the White House may introduce new regulations on nicotine levels in cigarettes, affect their addictive level.

The Imperial brand is listed in London

and British American Tobacco

fell 5% to 6% on Tuesday. In Asia, Japanese Cigarettes

shares are nearly 2% lower.

Shares of tobacco giant Altria of America

fell more than 6% in late trading on Monday and shares fell more than 1% on the New York money market. The decline in the share price of Philip Morris International

quieter – shares fell more than 1% on Monday in New York and just below the money market.

The The Wall Street Journal reported on Monday that President Joe Biden’s administration is reviewing new regulations that require tobacco companies to reduce nicotine levels in cigarettes sold in the US to the point where the products are no longer addictive.

The decision on this matter will be made when the authorities are faced with a deadline as to whether or not they intend to ban menthol cigarettes.

Read more: The Biden administration may require tobacco companies to reduce the amount of nicotine in cigarettes

European-listed tobacco stocks led stocks across the region to fall on Tuesday. Pan-European Stoxx 600

0.7% lower while London’s FTSE 100

dip 0.5%. CAC 40

in Paris down 0.8% and DAX in Frankfurt

0.3% slide.

Dow futures

has pointed down around 30 points, which is set to open further down after the index closed down 123 points on Monday at 34,077.

Analysts say macro factors remain unchanged, with bond yields, inflation fears and continued pressure to contaminate COVID-19 in Europe as the market moves to bear earnings enter a business.

“Earnings can be the catalyst to give the overall market direction,” said Jim Reid, chief strategist at Deutsche Bank.

This sentiment is echoed by Michael Hewson, an analyst at CMC Markets, who noted that “perhaps it’s not surprising that after the gains seen last week we could see some close. modest words as we prepare for this week’s larger earnings announcements. “

Looking through a cigarette stockpile, shares of Czech cybersecurity company Avast are listed in London
+ 2.71%
a component of the FTSE 100, up almost 3% after the team reported results for the first quarter of 2021. Revenue and adjusted earnings both increased by more than 10% in the quarter compared to the same period last year, and Avast raised its forecast. report for the whole year.

More: The planned European soccer super league has put the sport in chaos. What is this mainly?

The German automobile giants Volkswagen

+ 0.17%

and BMW
+ 0.52%

was one of the top gainers in Frankfurt trading, giving the DAX a boost with Volkswagen shares almost 2% higher. Daimler pre-announced positive first-quarter results on Friday that Deutsche Bank analysts expect to pave the way for similar earnings announcements from Volkswagen and BMW in the coming days.


shares fell nearly 3% in Paris Track income erratic. The French food giant has endorsed their guidelines for the whole year and says sales fell in the first quarter of 2021 as the pandemic continues to weigh on its operations.

Stakes in Italian football club Juventus

fell 6.5% in Milan, wiping out some of the 18% gains on Monday after news of the club joining the separating European Super League of top clubs. The backlash from fans and politicians against the new tournament continued on Tuesday, despite Manchester United’s stock
+ 6.74%

listed in the US – was up more than 2% in the currency markets, after rising almost 7% on Monday.



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