British American Tobacco shares slumped 8% as the cigarette maker said it will write down the value of its cigarette brands by £25 billion ($31.5 billion).
By Joe Hoppe British American Tobacco expects a one-off impairment of $31.5 billion this year due to pressure on some of its traditional cigarette brands in.
By Joe Hoppe British American Tobacco said it expects a one-off impairment of around 25 billion pounds ($31.49 billion) this year due to market pressure on.
U.K. stocks finished higher Wednesday, with the FTSE 100 Index increasing 0.34% at 7,515.38. Of the FTSE 100 constituents, wired telecommunications services.
Altria Group Inc. and Philip Morris International Inc.’s stocks fell in premarket trade Wednesday, caught up in the downdraft created by British American.