UK stocks : FTSEurofirst 300 up 1.2 pct
Reuters: London, Feb 09 2013, 02:43 IST
fell 2 percent after Investec cut its rating to "hold" from "buy" on worries profits could be squeezed as planned cost optimisation looks challenging when the company starts with some of the best margins in the industry.
"We don't think a take-out is imminent enough and while Imperial Tobacco looks 'cheap', it doesn't look that cheap in the current Darwinian climate," Investec said in a note.
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