Stocks jump on tobacco case


  • Business Premium
  • Sunday, 06 Feb 2005

NEW YORK: US stocks surged ahead on Friday, boosted by a rise in cigarette makers after a favourable court ruling and a weaker-than-expected jobs report that eased concerns about faster interest-rate hikes. 

Tobacco companies jumped after a US appeals court rejected the government’s bid to force cigarette makers to pay billions of dollars in past profits as part of its racketeering case against the industry. 

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