Covid vaccine sees pubco shares rise

By Nicholas Robinson

- Last updated on GMT

On the up: vaccine sees pub shares rocket
On the up: vaccine sees pub shares rocket

Related tags Marston Mitchells & butlers Jd wetherspoon Share price

Major pubco share prices rocketed today following the announcement of a coronavirus vaccine by pharmaceutical companies Pfizer and BioNTech.

Some 40m doses of the vaccine have been ordered by the UK Government, with around 10m of them expected to be ready for use by Christmas, it has been reported.

The announcement of the jab sparked London’s stock market into action and, at the time of reporting, the FTSE 100 was on track to have its best day since March this year.

At around midday today (Monday 9 November), Mitchells & Butlers PLC saw its share price rocket by over 26%.

JD Wetherspoon PLC saw similar figures, with its price jumping by over 21% at around the same time.

Share prices up over 48% for some

Brewer and pub operatory Marston’s PLC also saw investor interest in its business increase, with share prices up over 26%.

Also in the same boat was Clive Watson-owned The City Pub Group PLC, with shares up over 28%.

Hospitality business Whitbread also saw shares up at over 18%, as did Revolution Bars Group, with shares up an impressive 48%, while Young & Co’s Brewery PLC was up over 24% and Fuller, Smith & Turner PLC rose to near 11%.

Much of the pubco share price increases led them to being highlighted on the London Stock Exchange within their category listings as highest climbers.

Of the new vaccine, UKHospitality chief executive Kate Nichols said: "The reported breakthrough on a vaccine is clearly very good news for public health and for the economy.

"We should not pin all our hopes on what could still prove to be a false dawn but, should this vaccine make it to rollout stage, it cannot come soon enough. Hospitality operators will be boosted by the strong sense of stability it brings, enabling longer-term planning of investment, employment and growth, not to mention planning the welcoming customers back to their much loved venues."

Other sectors see stock rise

As well as pubcos seeing shares rocket, a positive boost for the sector, other industries severely affected by the coronavirus trade saw similar moves.

Catering companies, restaurant groups, airlines and cinema groups also saw a boost following months flatlining.

The news comes as pubs in England come to the end of a week under the new lockdown​ which came into force on Thursday 5 November.

Politicians have since criticised the move as prior to its implementation coronavirus infection rates had begun to decline.

In the background, other Government heavyweights are also calling for an end to the 10pm curfew once the country comes out of lockdown.

Related topics Property law

Related news

Show more