British American Tobacco Stock Slips as UK Smoking Ban Nears Law and BAT Keeps Buyback Running
British American Tobacco faces a UK regulatory test as Britain’s lifetime smoking ban is set to become law, barring anyone born after January 1, 2009, from ever buying cigarettes. BAT shares fell 1.26% to 4,248 pence on Monday. The company bought back 260,511 shares last week and plans to cancel them. Smokeless products made up 18.2% of BAT’s revenue in February, with 34.1 million consumers reported.