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LONDON, Oct 8 (Reuters)British tobacco company Imperial Brands IMB.L on Thursday forecast full-year net revenue to be broadly flat and in line with market estimates, as it works through the impact of the coronavirus pandemic.

The forecast is slightly above guidance provided at its half-year results, the maker of Gauloises and West cigarettes said in its first indication of performance under CEO Stefan Bomhard, who joined in July.

However, the company forecast earnings per share down around 6%, also in line with market expectations it said, due to increasing its provisions as a result of COVID-19-related additional COVID-19-related manufacturing costsand uncertainties.

Imperial said the pandemic has increased demand for tobacco, resulting in better-than-expected sales volumes.

Improvements were seen in key European markets and the United States, which helped offset weaker performance at duty-free shops and in some traditional summer tourist destinations.

Overall, the company expects tobacco net revenue up 1%. It expects sales of “next generation products,” including e-cigarettes, to fall 30%.

Imperial will report full-year results on Nov. 17, at which time it will announce the date of a capital markets event in the first quarter of 2021.

(Reporting by Martinne Geller; editing by Jason Neely)

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Oct 1 (Reuters) – Australian shares are set to rise on
Thursday, tracking Wall Street which closed last session higher
as stimulus talks progressed, with gains in prominent mining
stocks on the back of soaring iron ore prices likely lifting the

U.S. stocks closed solidly higher on Wednesday as government
leaders continued talks for a new pandemic relief package, while
iron ore futures surged, with the Chinese benchmark jumping 5%.

The local share price index futures rose 0.2%, a
2.9-point discount to the underlying S&P/ASX 200 index
close. The benchmark fell 2.3% on Wednesday.

New Zealand’s benchmark S&P/NZX 50 index rose 0.06%
in early trade.

(Reporting by Arundhati Dutta in Bengaluru; editing by Diane

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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U.S. stock futures were flat in overnight trading, as investors braced for the start of the fourth quarter with hopes of fiscal stimulus. 

Dow futures rose 45 points. S&P 500 futures and Nasdaq 100 futures ticked up 0.18% and 0.12%, respectively. 

The House of Representatives delayed the vote on a $2.2 trillion rescue package on Wednesday evening after House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin failed to strike a coronavirus aid deal; however, the pair said the conversation would continue. 

The Federal Reserve said Wednesday it is extending the restrictions on big bank dividends and buybacks through the fourth quarter. Banks dipped in extended trading following the central bank’s announcement. 

On Wednesday, the Dow Jones Industrial Average climbed more than 300 points, after being up more than 550 points on hopes the White House and Senate would agree to a second stimulus package.

The S&P 500 also registered a gain, climbing more than 0.8%. The Nasdaq Composite rose 0.75%, helped by gains in Netflix and Microsoft. 

Stocks that hinge on economic recovery — like airlines and cruise lines — lost steam following the negative stimulus headlines. Airlines are on the cusp of laying off tens of thousands of employees without further government support. 

“Given lawmakers failure to make any progress, there is further doubt that any agreement can be reached prior to the election on November thirds,” Aviva Investors’ head of U.S. equities Susan Schmidt told CNBC. “Investors are entering into the final quarter of the year expecting continued volatility and recognizing that not-owning the winners this year has had a detrimental impact on their portfolios.” 

Despite Wednesday’s rally, stocks rounded out September with losses, the first month of decline since March. 

The Dow Jones Industrial Average lost nearly 2.3% in September, a typically weak month for

BENGALURU (Reuters) – Indian shares were mostly muted on Wednesday as a weakness in banking shares was offset by gains in pharmaceuticals and heavyweight Reliance Industries after an investment deal by General Atlantic in the conglomerate’s retail arm.

FILE PHOTO: The Bombay Stock Exchange (BSE) building is seen in Mumbai, India, January 31, 2020. REUTERS/Francis Mascarenhas/File photo

By 0448 GMT, The broader NSE Nifty 50 index was down 0.02% at 11,225 and the S&P BSE Sensex was mostly unchanged at 37,941.30.

The Nifty bank index fell 1% and the public sector bank index slid 1.2%.

“The banking sector will be under pressure till some clarity emerges from the Supreme Court (on the loan moratorium case),” said Saurabh Jain, assistant vice president at SMC Global Securities Ltd.

“Wherever there is optimism and managements are confident (in sectors like IT and pharma), investors are not worried about putting more money and the valuation. But, no one wants to put money where there are concerns on the operational side and (have) regulatory issues,” Jain said.

India’s top court will next week hear a case on banks waiving interest rates on loans under a moratorium. Analysts expect weakness among bank stocks to linger as the industry stares at more defaults by coronavirus-hit businesses, raising concerns of a fresh bout of bad loans.

The Nifty pharma index rose 1.75%.

Reliance Industries Ltd was the top boost to the Nifty 50 index, gaining nearly 1%, after the company said U.S. fund General Atlantic plans to invest 36.75 billion rupees ($498.31 million) for a 0.84% stake in its retail arm.

Shares of Bharat Petroleum Corp fell 4.1% after Reuters reported that Rosneft and Saudi Aramco were unlikely to bid for the Indian refiner’s stake.

Investors are also awaiting clues about the Indian economy from the August infrastructure