British American Tobacco shares test buyback floor as stock slips below latest repurchase price
British American Tobacco p.l.c. traded below the average price it paid for its own shares last week, a small gap that gives investors a cleaner read on how much support the buyback is giving the stock after a cost-cutting plan hit about 9,000 roles. The shares were at 4,602p at 15:00 BST, down 0.41%, after opening at 4,645p and falling as low as 4,592p. The FTSE 100 was down about 0.31%. London Stock Exchange regular trading runs from 08:00 to 16:30 local time.