LONDON MARKETS: FTSE 100 Ends Lower As British American Tobacco's Stock Gets Smoked

By Mark DeCambre, MarketWatch

British American Tobacco's stock tumbles 12%

U.K. stocks on Monday kicked off the week on a downbeat note, as shares of British American Tobacco finished the day nearly 12% lower on reports of increased regulation by the FDA.

How are markets performing?

The U.K.'s FTSE 100 closed 0.7% lower at 7,053.08, after finishing last week with a moderate 0.2% gain.

The British pound was off to a weak start at the beginning of the week, as Brexit negotiations weighed. One pound last bought $1.2850, down from $1.2974.

What's moving markets?

U.K. Prime Minister Theresa May continues her attempts to forge a new agreement with EU for its life outside of the trade bloc. U.K. Transport Minister Jo Johnson, Boris Johnson's brother, resigned over the lack of progress in Brexit talks, last week, calling for the public to have another say. May also has been battling doubts about her Brexit leadership.

What stocks are moving?

British American Tobacco PLC(BATS.LN) finished the session down 12% after The Wall Street Journal reported (http://www.marketwatch.com/story/altria-british-american-tobacco-stocks-fall-again-on-report-of-menthols-ban-analyst-says-buy-the-dip-2018-11-12) that the Food and Drug Administration was planning to propose a ban on menthol cigarettes.

(END) Dow Jones Newswires

November 12, 2018 17:47 ET (22:47 GMT)

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