London, Feb 10, 2026, 08:51 GMT — Regular session
By 0851 GMT on Tuesday, British American Tobacco dipped 0.4% to 4,438 pence (£44.38), having earlier bounced between 4,450 and 4,388 pence.
BAT shares have jumped back onto traders’ radar before the company’s annual results this week. Buyback updates and a move by a major shareholder reignited interest, following a bumpy first few days.
On Thursday, BAT will release its 2025 preliminary results at 0700 GMT, according to the company’s results page. Chief Executive Tadeu Marroco and interim CFO Javed Iqbal are set to lead an investor webcast at 0930 GMT.
BAT disclosed in a Tuesday RNS it repurchased 149,812 shares on Feb. 9, paying a volume-weighted average of 4,517.1620 pence apiece, and plans to cancel them. The move trims the number of shares on the market—potentially bumping up earnings per share.
U.S.-based fund manager The Capital Group Companies trimmed its voting interest in BAT, dropping to 17.934796% from the previous 18.869293%, according to a TR-1 major holdings notice released Monday. The update, tied to a sale of voting rights, covered holdings in both BAT’s London-listed stock and depository receipts.
BAT closed Monday at £44.56, down 3.32%, while the FTSE 100 managed to edge up 0.16%, MarketWatch data showed. Shares now sit roughly 8.6% off their 52-week high of £48.77 reached on Dec. 19, 2025.
Imperial Brands slipped 1.17% by Monday’s close in London trading.
On Thursday, investors are zeroed in on any fresh guidance and comments about whether pricing gains and new products are making up for the persistent slide in cigarette volumes. They’ll also be watching for hints on cash returns, especially if there’s any shift in the buyback pace following the results.
The risks are nothing new: stricter regulations around vaping and nicotine threaten both sales and profits, while black-market activity chips away at legitimate business in important regions. If sentiment turns cautious, or if big investors dump more stock, the shares could stay under the gun.
Next up: BAT drops its results at 0700 GMT on Feb. 12, with the webcast set for 0930 GMT. Traders are also eyeing fresh buyback moves and updated shareholder disclosures ahead of the event.
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