Some of Britain’s biggest travel and leisure companies retreated sharply this morning as the government confirmed that it was considering a second national lockdown.
The number of new coronavirus cases is doubling every seven to eight days, and Boris Johnson and his team are mulling the reintroduction of tougher restrictions. Matt Hancock, the health secretary, said that the government would do “whatever is necessary to keep people safe”.
Travel and leisure companies bore the brunt of the first lockdown, with many starved of income for months. Investors, wary of a repeat, were quick to ditch airlines, pubs groups and restaurant owners this morning.
IAG, the British Airways owner, dropped 12¾p, or 9.9 per cent, to 116¾p; shares in Restaurant Group, Wagamama’s parent, fell 3½p, or 6.2 per cent, to 52½p; and JD Wetherspoon, the no-frills pub chain, was marked down 39p, or 4.5 per cent, to 822½p.
Banking stocks … Read the rest