The latest official figures show new coronavirus cases rising at their fastest rate since March 2021 due to the more transmissible ‘Delta’ variant which is putting pressure on the government to choose between leaving some measures in place after June 21 or postponing so-called Freedom Day by a couple of weeks. The UK isn’t alone in balancing risks of new variants against the progress made ...

The opening of indoor hospitality on 17 May was the penultimate step on the Government’s roadmap towards the complete removal of restrictions on 21 June, notwithstanding the threat of new variants. The UK’s successful vaccination programme and falling hospitalisations over recent months has spurred hopes for a strong second half economic rebound, with the Bank of England upgrading its 2021 ...

We’re getting a distinct feeling of déjà vu as the hospitality sector starts to reopen. Indeed, just 10 months ago we were doing more or less the same thing, although this time round the economy looks in much better shape and the rollout of vaccinations has given consumer confidence a shot in the arm. After a third lockdown, there is no doubt a large part of the population is ready – not ...

Shares in neighbourhood café operator Loungers (LGRS:AIM) fell 2.8% to 258.5p despite it beefing up its finances ahead of the reopening. The firm has agreed a 12 month extension to its banking facilities as well as covenant testing waivers ahead of opening up its estate. An incremental revolving credit facility of £15 million, put in place last April has been extended to October 2022 and ...

There is significant pent-up demand in the pubs and restaurants sector which should see a swift return to profitability once reopening is allowed, according to analysts at broker Numis. POSITIVE FACTORS ALIGN If Australia is any guide, customers will flock back to restaurants very quickly. Since the country reopened in the early Autumn footfall reached pre-pandemic levels in ...

It might not seem like it in the depths of a gloomy lockdown winter, but brighter days are ahead of us. By mid-February the UK hopes to have vaccinated most over-70s, with a large chunk of over-50s potentially covered by the end of March. This cohort should then be much better protected against Covid-19 and that could result in a new spending spree. Getting the vaccine should allow for the ...

Four major shareholders in hangout cafes operator Loungers (LGRS:AIM), including chief executive Nick Collins, have sold shares worth a combined £9.1 million in the past week. Collins, investor Lion Capital, chairman Alex Reilley and commercial director Jake Bishop collectively sold 4.25 million shares, representing 4.2% of the company’s issued share capital, at a price of 215p each, a ...

UK stocks closed higher Wednesday after news that the UK had become the first country to approve the Pfizer-BioNTech vaccine for emergency use with vaccinations expected to start next week. In afternoon trading, Pfizer shares gained 3.5% while in Frankfurt shares of BioNTech closed 5% higher on the day. At the close in London the FTSE 100 was was up 79 points or 1.25% at 6,463, with miners ...

Hangout cafes operator Loungers (LGRS:AIM) saw its share price jump 7.7% on Wednesday as investors welcomed the reopening of many of its venues under the new tier system. The market's upbeat mood was also fuelled by the company 's strong like-for-like growth and higher profit margins, although 11 weeks of lockdown in the 24 weeks to 4 October predictably took its toll. Revenues for the ...

UK stocks opened slightly lower on Wednesday despite news that the UK had become the first country to approve the Pfizer-BioNTech vaccine for emergency use with vaccinations expected to start next week. In contrast, shares of BioNTech jumped 8% in Frankfurt on the news. By midday the FTSE 100 was was up just 12 points or 0.2% at 6,396, with consumer stocks such as AB Foods (ABF), Coca-Cola ...

UK stocks opened slightly lower on Wednesday despite news that the UK had become the first country to approve the Pfizer-BioNTech vaccine for emergency use with vaccinations expected to start next week. Shares in Frankfurt listed BioNTech jumped 8% In early trading the FTSE 100 was off 0.1% at 6,382 points. Sterling traded 0.4% lower against the US dollar at $1.33. Brent Crude prices were ...

In another blow for the hard-pressed leisure sector, Boris Johnson has introduced a new three-tier restrictions framework to combat the spread of coronavirus, notably across the north of England. Noting that wet-led (drinks) establishments are expected to be harder hit than food-led venues, Liberum Capital has identified JD Wetherspoon (JDW) and Marston’s (MARS) as having a larger exposure ...

Local high streets and out-of-town retail parks could see a resurgence as the public opts to either stay near to their homes for shopping and leisure activities, or to go somewhere with ample car parking space so they don’t mix with others in close proximity on public transport. There are already signs that commercial city centres including London are suffering as working and travel habits ...

UK stocks erased their early gains to end lower on Wednesday as investors awaited an update from the US Federal Reserve due after the market close regarding the outlook for the US economy. At 4.35pm the benchmark FTSE 100 index was down 7 points at 6,078, led lower by supermarket groups Sainsbury (SBRY) and Tesco (TSCO) and engineers Melrose (MRO) and Roll-Royce (RR.). The FTSE 250 mid-cap ...

Shares in neighbourhood café/bar restaurant group Loungers (LGRS:AIM) soared 18% to 180p after reporting 30% growth in like-for-like revenues since re-opening and record trading during August. Like many in the hospitality sector Loungers benefited from the Eat Out to Help Out scheme but even excluding the resulting uplift, like-for-like sales were positive for the nine weeks from 13 July to 13 ...

UK stocks tracked sideways in early trading on Wednesday as investors awaited an update from the Federal Reserve about the outlook for the US economy. At 8.39, the FTSE 100 was ever so slightly lower, off 0.15% at 6,096.30 points. E-commerce company The Hut (THG), the Manchester-based owner of the Lookfantastic website, surged 27% higher to 635p, having priced its IPO at 500p, as conditional ...

Last week saw the much-awaited reopening of ‘non-essential’ retailers, after 12 weeks of lockdown restrictions, with images of crowds milling around at retail parks and lengthy queues outside high-street stores. Research group Springboard says that while consumers have started to return to shops, footfall in the first week of non-essential retail reopening in England was only half the level ...

The FTSE 100 dipped 0.4% to 6,368 points on Thursday, dragged down by oil shares after Brent Crude prices fell 13% to $36.4 per barrel on heightened worries over a large build-up in US distillate inventories. Going in the other direction were pharma and beverage shares with AstraZeneca (AZN) up 1.7% to £87.4 and Diageo (DGE) 0.85% higher at £29.2. Asian shares rose to two-month highs with ...

Café cum bars operator Loungers (LGRS:AIM) continued its expansion push in the first half with the doors flung open on 10 new sites (eight Loungers and two Cosy Clubs). This leaves the ambitious company on track for 25 new sites by the time the full year closes at the end of April 2020. Loungers operates a unique all-day trading model that means combining the feel of a coffee shop, pub and ...

Investors will be coming to equity markets on Wednesday hoping for some sort of recovery from the sea of red in yesterday’s huge sell-off in UK stocks. The FTSE 100 benchmark slumped 1.75% to 7,158.76 in trading on Tuesday after President Trump again spooked investors, but the early signs in London are not hugely promising. The UK’s leading index is off another 15 points in early deals to ...