UK stocks struggled right in the middle of a sideways path on Thursday, helped by gains in International Hotel Group and Mitchells & Butlers following a positive analyst note, while shares of Vivo Energy rose skyrocketed after news of the acquisition of 2.3 billion USD.
100 FTSE Index
inched 0.1% to 7,293, but for the week so far has gained almost 1%, against a weaker trend on European indices. GBP
steady at $1.3325.
Discounts are stockpiles of resources, with energy giant Royal Dutch Shell
down 0.8%, while miner Rio Tinto
1% off each category.
complete slightly lower on Wednesday as US inventories rose and traders awaited a response from OPEC and its allies on a US stockpiling release earlier this week.
US markets will be closed on Thursday for the Thanksgiving holiday and will reopen on Friday for a shortened session.
International hotel group
led the FTSE 100 gainers, up 2.7% after a double upgrade to buy from analysts at Jefferies, where a team led by James Wheatcroft predict pent-up demand will lead to attention Investors’ intentions are more in their leisure time. “The data encourages a focus on hotels for 2022,” he said, adding that they are also active in the gaming sector.
In addition, the analysts expect “low-fare, easily accessible entertainment activities such as pubs, restaurants, cinemas and catering will recover quickly as the landscape normalizes, driven by increased market share. Whitbread
are rated as purchased at Jefferies.
Shares of Mitchells & Butlers rose 4% and Whitbread rose 2%. Cineworld shares fell 1% and JD Wetherspoon was unchanged. The group also upgraded Melia Hotels International
in Spain to buy, and those shares rose 4.6%.
grew by nearly 20% after the Africa-focused fuel and lubricants retailer and distributor agreed to a $2.3 billion takeover by VIP II Blue BV, an indirect subsidiary of Vitol Investment Partnership II Ltd, an independent energy trading and marketing company.
https://www.marketwatch.com/story/international-hotels-group-climbs-as-jefferies-says-time-to-buy-leisure-while-vivo-energy-soars-on-buyout-11637842977?rss=1&siteid=rss International Hotels Group escalates as Jefferies says time to buy entertainment, while Vivo Energy soars to buy