Article and photos from hienalouca.com
More than £100 billion has been wiped off the value of five of the world’s biggest tobacco companies amid growing fears over the rise of vaping and increased regulation.
British American Tobacco (BAT), which is listed on the London Stock Exchange, has been the worst affected losing about half of its stock market value.
In November, the US Food and Drug Administration (FDA) announced that it is to consider banning menthol cigarettes, a move that would compound a disastrous year for the firm with more than half of its sales coming from the product.
More than £100 billion has been wiped off the value of five of the world’s biggest tobacco companies amid growing fears over the rise of vaping and increased regulation
Rival firm Imperial Brand saw a fall in value of around a quarter while US companies Altria and Phillip Morris lost some 30 per cent.
Japan Tobacco is a fifth lower, following a shift in consumer tastes which has seen vaping spike in popularity.
RBC analyst James Edwardes Jones told the Daily Telegraph: ‘The impact of the FDA’s menthol cigarette ban and margin erosion from the growth in next-generation products is priced in, although for this previously uber-defensive and predictable stock the future is very opaque.’
The news comes after an experiement laid bare how much worse it is to smoke cigarettes than to vape, in the hope of encouraging thousands to kick the habit.
In November, the US Food and Drug Administration (FDA) announced that it is to consider banning menthol cigarettes, a move that would compound a disastrous year for the firm with more than half of its sales coming from the product
Public Health England conducted the test using jars of cotton wool exposed to tobacco smoke, e-cigarette vapour or normal air.
The grim results showed the jar exposed to 320 cigarettes turned brown and sticky, while there was just a light mist in the vaping scenario.
Officials at PHE warn nearly half of smokers don’t realise how much healthier e-cigarettes are and warned it would be ‘tragic’ if smokers stuck to tobacco because of ‘false fears’ about the safety of vaping.
However, experts warn there growing concerns about electronic cigarettes contributing to heart disease.
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