Imperial Tobacco Group Plc, Europe’s second-biggest tobacco company, rose the most in a year in London trading after the Sun reported that the U.K. government has scrapped plans to consider legislation on plain packaging.
British American Tobacco Plc, Europe’s largest cigarette maker, reported first-quarter revenue growth that beat estimates as the maker of Pall Mall and Dunhill raised prices to offset falling consumption.
Japan Tobacco Inc. climbed the most in a month in Tokyo trading after the maker of Camel and Mild Seven cigarettes agreed to pay 475 million euros ($596 million) for Gryson NV to boost growth in Europe’s roll-your-own market.
British American Tobacco Plc said it may sell an alternative nicotine product in the U.K. as early as next year, as Europe’s largest cigarette maker moves to counter stricter global restrictions on smoking.
British American Tobacco Plc and Imperial Tobacco Group Plc fell the most in about a month in London trading after a report that health regulators in Russia, the second-largest tobacco market, proposed raising cigarette taxes almost eightfold.
The U.K. government is still considering proposals to make plain packaging compulsory for tobacco products, Prime Minister David Cameron’s spokesman said after the Guardian reported that the country will follow Australia in introducing such a law as early as May.
British American Tobacco Plc , the maker of Lucky Strikes, created a unit that will seek to develop nicotine products for people wanting an alternative to cigarettes as governments aim to reduce smoking.
Imperial Tobacco Group Plc, Europe’s second-biggest tobacco company, fell the most in five weeks in London after the Guardian reported that the U.K. plans to follow Australia in introducing plain packaging for cigarettes.