Relief

Greggs, Cineworld Reopening Plans Give Some Relief to Shares

(Bloomberg) — Britons will soon be able to purchase hot Greggs Plc sausage rolls and go to movie theaters again, boosting shares of the bakery chain and cinema operator Cineworld Group Plc.

Greggs will reopen around 800 shops to takeaway customers on Thursday, while Cineworld plans to lift the shutters on cinemas across some territories during the last week of June, with all theaters set to be open over the course of July. Both companies are implementing social distancing and other measures to counter the spread of coronavirus as part of their plans.

Greggs shares rose as much as 5.5% on Tuesday, the biggest advancer in the FTSE 350 Food & Drug Retailers Index, while Cineworld climbed as much as 11%, outpacing Europe’s Stoxx 600 Travel & Leisure Index. Even after Tuesday’s gains, the stocks are still down 25% and 62%, respectively, in the year to date.

The bakery chain

Read More