The Prime Minister announced plans to introduce a new law banning tobacco sales to anybody born on or after January 1 2009.
The UK’s biggest tobacco firms saw almost £1 billion wiped off their shares as they warned that the Government plan to raise the legal age for buying tobacco “threatens significant unintended consequences”.
Meanwhile, fellow London-listed firm Imperial Brands saw shares fall 2.4% lower after the update. It saw its market value decline by around £340 million. A spokesman for Imperial Brands said: “We understand the Government’s desire for new tobacco control measures, because of the health risks associated with smoking.
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