Business

International Hotels Group escalates as Jefferies says time to buy entertainment, while Vivo Energy soars to buy

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
UKX,
+ 0.18%

inched 0.1% to 7,293, but for the week so far has gained almost 1%, against a weaker trend on European indices. GBP
GBPUSD,
-0.09%

steady at $1.3325.

Discounts are stockpiles of resources, with energy giant Royal Dutch Shell
RDSA,
-0.75%

RDS.A,
+ 0.36%

down 0.8%, while miner Rio Tinto
RIO,
-0.14%

RIO,
-0.58%

and Glencore
GLEN,
-0.67%

1% off each category.

Oil prices
CL00,
-0.26%

BRN00,
-0.02%

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
IHG,
-0.58%

IHG,
+ 2.91%

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
WTB,
+ 1.88%
,
Cineworld
CINE,
-1.04%

and JD Wetherspoon
JDW,
-0.27%
,
Mitchells & Butlers
GHOST,
+ 3.22%

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
MEL,
+ 4.37%

in Spain to buy, and those shares rose 4.6%.

Above FTSE 250
MCX,
+ 0.20%
,
shares of Vivo Energy
VVO,
+ 19.39%

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

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