Altadis falls after U.S court ruling
12/28/99
PARIS, Dec 28 (Reuters) - Altadis , the world's fourth largest tobacco firm, fell on Tuesday after the Florida Supreme Court declined to step into a case won by Florida smokers, which leaves U.S. tobacco companies open to a potentially crippling multibill
At 1215 GMT, Altadis, created by the merger of Spanish tobacco group Tabacalera and France's Seita , was down 5.46 percent at 14.36 euros after setting a record-low at 14.22 euros. At the same time, the French CAC-40 index was up 0.12 percent.
Altadis, which is also listed in Madrid, fell below a technical resistance at 14.9 euros, a trader said.
The shares have lost more than 10 percent since Altadis made its Paris debut on December 10 amid concerns about repercussions from a French court ruling which partly blamed Seita for a smoker's death.
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