Imperial Tobacco Slides on News of U.K. Plain Packaging Law
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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.
The shares slid as much as 2.8 percent, the most since Jan. 30 when the company forecast a decline in first-half profit. They were down 2.1 percent at 2,393 pence as of 10:13 a.m. Rival British American Tobacco Plc fell as much as 1.6 percent.