leadf
logo-loader
viewRyanair Holdings plc

Pubs, restaurants and airlines hit by new coronavirus restrictions in England, vaccine trial pause

JD Wetherspoons and Restaurant Group were the biggest fallers, down 8%, while Marston’s fell 7%

Ryanair Holdings plc -

Travel and leisure stocks fell on Wednesday after disappointing news on a coronavirus vaccine and incoming UK restrictions on social gatherings and new travel quarantines.

Also, Ryanair (LON:RYA) become the second major airline to cut its passenger target for the year.

The Irish budget airline cuts its target to 50mln for the year to the end of next March, from the 60mln forecast it had given in July and 80mln estimate made in May.

Fares will be much lower and there is a likelihood that flight numbers could be cut even further, boss Michael O’Leary told Reuters. 

Earlier in the week, fellow low-cost airline Easyjet (LON:EZJ) said said it expected to fly “slightly less” than the 40% of planned capacity for the final quarter of its financial year it had indicated a month ago.

Overnight there was also news from AstraZeneca (LON:AZN) that its Oxford coronavirus vaccine trial has been “voluntarily paused” to allow a review after one patients suffered a “potentially unexplained illness”. 

The drug developer said this is a “routine action” whenever someone is taken ill on a trial, but with the Oxford vaccine the UK government’s most promising candidate and with hopes that first of 100mln doses could be delivered by the end of this year, the news hit a number of sectors. 

With rising case numbers around the country, Downing Street also said social gatherings of more than six people in England will be banned from Monday, apart from some exemptions such as gatherings for work, education, weddings, funerals, and organised team sports. 

There were also media reports that Number 10 may be about to enforce quarantine on all travellers from all EU countries. 

Prime Minister Boris Johnson will announce the new rules at his first press conference since July, where a new public information campaign will also launched based on his “Hands, Face, Space” slogan. 

Shares in airlines were down, with EasyJet down 5%, British Airways parent IAG (LON:IAG) down 3%, Wizz Air (LON:WIZZ) and Ryanair down 2%.

Pubs and restaurant shares were hit too, with JD Wetherspoons (LON:JDW) and Restaurant Group (LON:RTN) both down 8%, Marston’s (LON:MARS) down 7%, Mitchells & Butlers (LON:MAB) down 3%, City Pub (LON:CPC) down 4%, restaurant owner Fulham Shore (LON:FUL) down 2%, and Young’s (LON:YNGA) and Fuller, Smith & Turner (LON:FSTA) down 1%.

Quick facts: Ryanair Holdings plc

Price: 12.125 EUR

LSE:RYA
Market: LSE
Market Cap: €13.63 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Emperor Energy welcomes strong support for SPP as it progresses with Judith...

Emperor Energy Ltd's (ASX:EMP) Carl Dumbrell joins Proactive's Andrew Scott soon after receiving firm commitments to raise $656,000 through its share purchase plan (SPP) – attracting more than double the minimum $300,000 target. Net proceeds will go towards strengthening the company’s balance...

6 hours, 33 minutes ago

3 min read