Pub, bar and restaurant shares all rise ahead of Super Saturday
Pub, bar and restaurant shares shot higher this morning ahead of the eagerly awaited Super Saturday.
The reopening tomorrow will see UK pubs and restaurants open their doors for the first time in three months.
People are expected to flock to pubs for a pint and the weather is predicted to be good.
Nevertheless there are worries that people might go overboard.
The Police Federation has called the easing of the lockdown “a countdown to party time” that will increase pressure on policing due to drunken and irresponsible behaviour.
London police chief Cressida Dick has put “extra resources” in place. “My message is: if you’re coming out on Saturday, be calm, be sensible,” she told BBC radio.
JD Wetherspoon, one of the biggest chains, is opening all its pubs in England.
But with capacity limited, it is encouraging customers to come Sunday to Thursday. “Monday is the new Saturday,” it said.
Wetherspoon shares gained 9p at 1067p.
Mitchells & Butlers will open more than three quarters of its 1,745 pubs, bars and restaurants tomorrow. Its shares added 1p at 193p.
Elsewhere Fullers shares gained 18p at 776p.
But not all pubs are opening on Saturday.
Young & Co’s, for example, is waiting until July 20. Its shares gained 14p at 1000p.
Neil Wilson, analyst at Markets.com, said: "Pub and restaurant stocks have taken one hell of a beating during the pandemic, but investors may be able to raise a glass come Saturday as the various inns and hostelries reopen because share prices have recovered remarkably well.
"Marston’s has risen threefold from its March low, while JD Wetherspoon and Mitchells & Butlers have both more than doubled in that time."
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