LONDON (ShareCast) - In the satirical movie Thank You For Smoking the boss of a tobacco lobbyist sums up by saying: "We don't sell tic tacs, we sell cigarettes. And they're cool, available, and 'addictive'. The job is almost done for us." British American Tobacco (BAT) will always have a market and good cash generation, and should rise out a consumer slowdown in the wider market. Buy, says the Independent.

The Telegraph agrees, saying BAT trades at a slight discount to rival Imperial and yields more, suggesting there is still value to be had even after the recent run.

BHP Billiton has used its enormous balance sheet to invest in the sort of oil projects only a handful of others are capable of financing. As a result it has, in Marius Kloppers, BHP's chief executive, words, “the assets of a super major in a mid-sized oil company”.

BHP has failed in the past to capitalise on that position but should now be able to benefit from both rising metal and oil prices. With the latter increasingly coming to the fore, the shares, at nine times next year's forecasts, should be held, says the Times.

The launch of emissions trading in Australia remains a concern, but at 422p, or 14 times 2008 earnings, International Power’s shares are a solid “hold”, writes the Times.

Intercontinental Hotels is a sound company with a sound model, and has the advantage of a lot of future business already signed up. For investors that want to protect their money, it is a good choice, but do not expect fireworks. Hold, says the Independent.

With like-for-like comparisons due to get easier, debt negligible and the shares, up 15 per cent at 169p, trading at ten times 2008 earnings and offering a 5 per cent dividend yield, The Restaurant Group is worth buying on weakness, writes the Times.

Anglo Irish Bank has positively shone. A 16pc increase in first half pre-tax profit to €667m (£531m) yesterday made it a model institution, especially as that came after a €190m credit market hit. On 6.5 times forecast earnings and a 2.5pc yield, it still looks a pretty investment. Buy, says the Telegraph.

Numis will perform well when financial markets return to health. With no indication of when that will be, investors with no attachment to the sector should tread carefully. Cautious hold, writes the Independent.

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