Imperial Brands sell-off 'looks an overreaction', says Deutsche Bank

Imperial Brands PLC (LSE:IMB) shares fell around 7% in the two days after its half-year update, though analysts said the reaction looked excessive given unchanged full-year guidance. Deutsche Bank analyst Damien McNeela noted that the reaction was due to market share contracting in the FTSE 100 group's top-five markets, along with increased competition in US pouches and a forex drag on adjusted earnings per share.