Imperial Brands PLC - Bristol, England-based tobacco products - Engages US investment bank Morgan Stanley to run the first part of the £1.25 billion share buyback that Imperial announced earlier this month. The £625 million tranche starts on Wednesday and will be completed by April 29. ‘This is part of the company’s commitment to an ongoing, multi-year buyback programme that will deliver a material reduction in the capital base over time, which, together with our progressive dividend policy, will provide an ongoing source of shareholder returns,’ Imperial says.

Current stock price: 2,241.00 pence for £18.88 billion market capitalisation

12-month change: up 27%

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