AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
.jpg)
Highlights
- Additional support worth £1 billion has been announced by Chancellor Rishi Sunak for businesses impacted due to Omicron.
- Funding worth £683 million has been allocated for the hospitality and leisure sectors due to massive cancellations of events around Christmas.
- Arts and culture organisations would get £30 million additional support via the Culture Recovery Fund.
With businesses across the UK calling out for support amid latest Omicron scare, Chancellor Rishi Sunak has announced additional support worth £1 billion for the businesses which have been hit the most.
Funding worth £683 million has been allocated to the hospitality and leisure sectors as Omicron fears have led to massive cancellations of events at the most lucrative time of the year. One-off grants worth up to £6,000 per premises would be given to businesses in these sectors, along with discretionary funding worth over £100 million to local authorities for providing the necessary support to around 200,000 businesses.
To reduce the burden of costs due to Covid-related absenteeism on the small and medium-sized UK employers, the Boris Johnson government has decided to cover for the Statutory Sick Pay under its statutory sick pay rebate scheme (SSPRS). Arts and culture organisations would get £30 million additional support via the Culture Recovery Fund. Also, devolved administrations would also get funding worth £150 million.
Let’s take a look at some of the UK stocks impacted by the news.
RELATED READ: Are these 2 hospitality AIM stocks still a buy?
© 2021 Kalkine Media®
City Pub Group Plc (LON: CPC)
The market cap of City Pub Group plc stood at £94.52 million as of 22 December 2021. It has given a return of 18.18% to its shareholders in the last one year and its YTD returns stood at 2.48% as of 22 December 2021. City Pub Group plc’s shares were trading at GBX 91.00 at 1:48 PM (GMT) on 22 December 2021.
Restaurant Group Plc (LON: RTN)
The market cap of Restaurant Group plc stood at £657.94 million as of 22 December 2021. It has given a return of 45.88% to its shareholders in the last one year and its YTD returns stood at 38.61% as of 22 December 2021. Restaurant Group plc’s shares were trading at GBX 88.00, up by 2.33%, at 1:51 PM (GMT) on 22 December 2021.
Mitchells & Butlers Plc (LON: MAB)
The market cap of the FTSE250-listed company, Mitchells & Butlers plc, stood at £1,339.10 million as of 22 December 2021. It has given a return of 17.82% to its shareholders in the last one year and its YTD returns stood at 10.72% as of 22 December 2021. Mitchells & Butlers plc’s shares were trading at GBX 242.20, up by 3.36%, at 1:54 PM (GMT) on 22 December 2021.
RELATED READ: IHG, Whitbread (WTB) & PPHE: Should you hold these hospitality stocks?
Young & Co.'s Brewery Plc (LON: YNGA)
The market cap of Young & Co.'s Brewery plc stood at £522.97 million as of 22 December 2021. It has given a return of 41.34% to its shareholders in the last one year and its YTD returns stood at 20.68% as of 22 December 2021. Young & Co.'s Brewery plc’s shares were trading at GBX 1,565.00, up by 2.96%, at 1:58 PM (GMT) on 22 December 2021.
Loungers Plc (LON: LGRS)
The market cap of Loungers PLC stood at £284.07 million as of 22 December 2021. It has given a return of 31.29% to its shareholders in the last one year and its YTD returns stood at 19.18% as of 22 December 2021. Loungers plc’s shares were trading at GBX 277.50, up by 0.36%, at 2:01 PM (GMT) on 22 December 2021.
