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Market Report: Bearish Boris rattles pubs and restaurants

Originally an airline stock, it is now a pub and restaurant.

The rise of the Delta variant and the growing uncertainty about whether the government will lift the final Covid restrictions on June 21 have hit the struggling leisure sector in a new way.

The prime minister warned on Wednesday that it was too early to determine whether the country could keep its planned “freedom day.”

Uncertainty: Prime Minister Boris Johnson warned Wednesday that it was too early to determine if the country could keep its planned “freedom day.”

Boris Johnson said: “Everyone can clearly see that as the number of cases increases, so does the hospitalization in some cases.”

It was seen as a way to lay the groundwork before postponing the date, but he won’t make a decision until Monday.

The trader digested his bearish tone by selling out a group of several large pubs and restaurants that relied on abandoning social distance to increase sales.

Weatherspoon fell 3.8% (51p) to 1279p, and the restaurant group owned by Frankie & Benny’s and Wagamama fell 4.6% (6.4p) to 133.2p.

Stock Watch-Hurricane Energy

Hurricane Energy continued to worsen as it informed shareholders that there were obstacles in the North Sea oil and gas fields.

After the pump caused a blip in production on Tuesday, it slowed down and restarted.

The problem is under investigation. The news arrived the day after Minnow confirmed that a one-time meeting was scheduled for July 5th, when activist investors would like to dismiss five directors and replace them with two. I did.

AIM listed group shares, which traded above 50p two years ago, fell 6.6% (0.08p) to 1.12p.

Marston (2.3%, or 2.15p, 91p) and Allber One Owner Mitchell (2.6%, 8p, 303.2p) closed in the red.

Suspicion also hit the catering giant compass, which fell 3.1 percent (51.5p) to 1594.5p, as it may be necessary to delay or cancel a major event.

And Cineworld also flopped, down 2.7% (2.46p) to 88.34p.

The shares of Comptoir, which owns the Middle Eastern restaurant chain Comptoir Libanais, made a profit after the group warned that more restaurants would have to be closed in London and Leeds later next year.

We have already closed sites at Gatwick Airport, Heathrow Airport and central London.

AIM-listed companies’ annual losses, which rose 2.9% (0.25p) to 8.75p, jumped from around £ 520,000 a year ago to £ 8m. Elsewhere, investors backed up bright predictions from AutoTrader and Mitie.

Used car dealer auto traders’ profits fell by more than a third last year, accusing them of offering retail customers a free list during the blockade. This cost the company £ 7m a month.

However, we are investing in online service upgrades and believe that online car shopping will last much longer than a pandemic.

Boss Nathan Ko said stocks rose 6.5% (37.8p) to 615.6p as demand for “bonkers” showed no signs of waning despite the rapid deployment of vaccines. ..

This increased the wider FTSE 100 by 7.17 points, up 0.1% to 7088.18. Miti was the top riser in the midcap index after boss Phil Bentley said that “green shoots of recovery” had begun to be seen in businesses that were hit hard by the pandemic.

The group working on the Covid test site said annual sales for the year to March increased from £ 2.2 billion to £ 2.5 billion.

However, the rise of 5.9% (4.2p) to 75.9p was not enough to keep the FTSE 250 in the black. It fell 0.7% (150.21 points) to 22,608.76.

The hobby company Hornby has made a profit for the first time in nine years since adults returned to children’s toys during the blockade. However, the stock price fell 0.9% (0.5p) to 58.5p.

Ted Baker was also scheduled to announce annual results yesterday, but accused Covid of disrupting the audit process and delayed the third result.

Fashion retailers are currently planning to release figures on June 14th that are expected to show a loss of £ 65m. Stocks fell 3.2% (5.6p) to 167.5p.

Subprime mortgage Amigo fell 0.6% (0.05p) to 8.2p, again saying it could go bankrupt following last month’s High Court ruling to block bailout plans that limit compensation. They will pay the customer who complains that they were a loan that was sold incorrectly.

Amigo said it went bankrupt “under all reasonable scenarios” in the absence of a deal.

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Market Report: Bearish Boris rattles pubs and restaurants

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