FTSE 100 retreats after strong start; Imperial Brands jumps on results - Market Report

London\'s FTSE 100 made a bright start helped by a solid statement from cigarette maker Imperial. The tobacco group was the top riser as the Footsie added 30 points to 8,139 as annual revenues held steady and underlying profits rose by 4.5%. Losses in vaping and new products reduced. British Airways was a faller on yet another technical glitch in the airline’s IT systems. No flights were cancelled said the carrier which apologised for the delays but gave no details on how many people were affected. Britain’s big retailers have warned that rising costs and the tax increases announced in the Budget will lead to job losses, shop closures, and price hikes. In a letter to the Chancellor, 79 signatories urged the government to reconsider measures they say will add £7 billion in costs next year. Finally, among the smaller retailers, shares in posh bag maker Mulberry fell again as it posted an annual loss of £15.7million. The group, whi