Imperial Tobacco, one of Neil Woodford's top 10 stocks across his income portfolios, has reported full-year trading will be in line with previous forecasts, with its share price rising over 2% in reaction.
The cigarette manufacturing giant gained 48p per share - or 2.3% - rising to £21.41 in early trading after it said in its trading statement it would meet full-year expectations at the end of September. Imperial said net revenues were up 2% thanks to increased consumption in Eastern Europe and Asia, offsetting declines in Spain and North America. Woodford's £18bn income portfolios are currently biased towards value and defensive plays such as tobacco stocks as the manager remains cautious on markets. He holds 3.75% in the tobacco maker in the £10.8bn High Income fund, and 3.73% in t...
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