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Philip Morris Intl shares rise in market debut 

Shares of Philip Morris International Inc, the world's largest non-state-owned cigarette maker, rose as much as 5 percent on Monday morning in their first day of trading after the company was spun off from Altria Group Inc.

The shares were up $1.94 to $53.00 and traded as high as $53.70. Altria shares were up 23 cents, or 1 percent, at $22.99.

Investors have long anticipated the Philip Morris International spinoff as a way to get a pure play on the growing overseas tobacco business without being tied to a shrinking U.S. cigarette market. The company trails only state-run China National Tobacco Co in terms of global market share.

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