London, Feb 7, 2026, 08:12 GMT — The market is closed.
- BAT finished Friday’s session at 4,609 pence, gaining 1.19%.
- The group revealed an uptick in share buybacks, along with management picking up more shares tied to dividend activity.
- All eyes shift to Feb. 12, when investors get the full-year numbers and a first look at 2026 projections for nicotine alternatives and cash returns.
British American Tobacco finished Friday’s session up 1.2% at 4,609 pence, sitting just shy of its 52-week high after shares moved between 4,543 and 4,615 pence. London trading pauses for the weekend, with markets back in action Monday.
Just ahead of BAT’s full-year results—a key event for a stock often driven by guidance and capital returns rather than daily news—the company said it plans to release preliminary figures for the year through Dec. 31, 2025, this Thursday, Feb. 12. A webcast and Q&A are set for 9:30 a.m. GMT.
BAT kept snapping up its own shares, disclosing it purchased 121,668 on Feb. 5 at a volume-weighted average of 4,535.6560 pence each. The company will cancel the repurchased stock.
When a company does a buyback—snapping up its own shares—it trims down the total share count. That move tends to bump up earnings per share by default. With BAT, the buyback highlights just how much cash is flowing back to shareholders, even as the company pours money into its “smoke-free” lineup like Vuse vapes and Velo nicotine pouches.
Broader UK markets added a tailwind. The FTSE 100 finished Friday 0.6% higher after the Bank of England signaled possible rate cuts if inflation keeps falling—a setup that typically favors defensives with solid dividends.
The nicotine pouch battle isn’t going anywhere. Philip Morris International on Friday projected a 2026 profit that topped expectations, but the company flagged intensifying competition for its Zyn pouch. “BAT remained ‘well-positioned to win market share in U.S. nicotine pouches,’” Jefferies analyst Andrei Andon-Ionita said. Reuters
BAT revealed that some senior managers, among them Chief Executive Tadeu Marroco, made modest share purchases by reinvesting dividend payouts through the company’s share incentive plan. Marroco picked up 33 shares at £45.6229 apiece, the filing shows.
Investors will be looking next week for any shifts in commentary on pricing power and cigarette volumes, which remain the core cash driver, plus how quickly newer products are gaining traction. Another thing on traders’ radar: any hint that management is ramping up buybacks, or, instead, turning more cautious.
The situation isn’t one-sided. Back in December, BAT warned that tougher rules and rising competition in the U.S. vape space might drag its 2026 results closer to the bottom of its mid-term guidance. Marroco put it plainly—he was “trying to be cautious for 2026.” Reuters
Feb. 12 marks the next key moment: BAT will release full-year numbers and hold its investor call. Monday’s open—right after the weekend—offers the first shot at shifting positions.
