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Highlights
- French President Emmanuel Macron has postponed implementation of sanctions by France on Britain over a fishing row until the end of Tuesday.
- According to France, a post-Brexit deal on access to British fishing grounds is allegedly not being honoured by Britain.
The implementation of sanctions by France on Britain over a fishing row has been postponed by French President Emmanuel Macron until the end of Tuesday. Both sides will come up with new propositions for resolving the ongoing dispute.
According to France, a post-Brexit deal on access to British fishing grounds is allegedly not being honoured by Britain. France had stated earlier that it would strike back from midnight on Monday by increasing checks on trucks arriving from Britain and also by prohibiting docking of British trawlers in French ports.
On the sidelines of the UN climate conference in Glasgow, Macron said that the discussions on this matter have been restarted on the basis of a proposal made by him to the British PM Boris Johnson. It is still unknown if things will be resolved or further escalated by the end of Tuesday.
The Fishing Row
After the Brexit, the European Union and UK had said that both would agree on giving permit to fishing boats if they can proof that they have used each other’s waters for commercial purpose for years.
But the both the parties had differences over how much permit is needed leading to disagreements with France, after the UK and Jersey denied its request.
France on its part threatened with the retaliatory measures, which included preventing UK boats from offloading catches at its ports and tightening checks on UK boats and goods.
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Let’s take a look at some of the UK stocks which may be impacted by this news.
Angling Direct plc (LON:ANG)
Angling Direct plc is a UK-based fishing tackle retailer company with focus on selling fishing tackle and other similar products via retail stores or online. The current market cap of the AIM-listed company stands at £54.09 million. It has given a return of 23.28% in 1 year. Angling Direct plc’s shares were trading at GBX 70.00 as of 1 November 2021.
James Fisher & Sons (LON: FSJ)
James Fisher and Sons plc is a leading ship owning company, which offers marine engineering services. The current market cap of the LSE-listed company stands at £208.13 million. It has given a negative return of 63.58% in 1 year. James Fisher and Sons plc’s shares were trading at GBX 413.00 as of 1 November 2021.
Global Ports Holding PLC (LON:GPH)
Global Ports Holding PLC is a world leading cruise port operator and is listed on LSE’s main market. Its current market cap stands at £81.68 million, and it has given a return of 115.95% in 1 year. Global Ports Holding PLC’s shares were trading at GBX 130.00 as of 1 November 2021.
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Clarkson PLC (LON: CKN)
Clarkson PLC, commonly called as Clarksons, is a leading London-headquartered company which provides integrated shipping services across the globe. The LSE-listed company is a constituent of the FTSE 250 index and has given a return of 104.71% in 1 year. Its current market cap stands at £1,255.47 million. Clarkson PLC’s shares were trading at GBX 4,125.00 as of 1 November 2021.
Irish Continental Group plc (LON: ICGC)
Irish shipping and transport group Irish Continental Group plc is listed on LSE’s main market. The current market cap of the company stands at £682.50 million. It has given a return of 16.64% in 1 year. Irish shipping and transport group’s shares were trading at GBX 364.50 as of 1 November 2021.
