A dark cloud hung over British American Tobacco’s shares after a broker’s downgrade stoked fears that the cigarette maker will take a more conservative approach to shareholder returns. Anaysts at Goldman Sachs cut their share buyback estimates for the 2023 financial year from £2.25bn to a more modest £1bn. (The Times £) Shares in paper and packaging firms took a hit after Smurfit Kappa warned of a slowdown in demand over the summer. The FTSE 100 company, which makes boxes and packaging for the likes of Unilever and Nestle, said volumes fell 3 per cent in the three months to the end of September. (Daily Mail) They have long been the Marmite of chocolate bars. Now the makers of the Bounty bar ... [Read more]