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Reuters

Ecigarettes and heated tobacco light up Imperial Brands shares

LONDON (Reuters) -Imperial Brands is on track to meet its full-year goals helped by strong sales of ecigarettes and heated tobacco in Europe, it said on Tuesday, boosting its shares to a more than two-year high. Shares of the maker of Winston cigarettes and Backwoods cigars were up nearly 7% in morning trade, the second-best performance on the STOXX Europe 600 EUR price index. Investors seem “relieved that the firm is on track to hit its full year guidance figures, as it proceeds in its five year strategy to shift to tobacco alternatives,” Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown, said.

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