viewRevolution Bars

Government allows pubs and restaurants to reopen on July 4

Social distancing rule has been relaxed from two-metres to ‘one metre plus'

Revolution Bars - Hospitality stocks get nudge up after government allows reopening on July 4

Hospitality stocks got a nudge up on Tuesday afternoon after Prime Minister Boris Johnson announced pubs and restaurants will be allowed to reopen from Saturday July 4.

The public is still required to respect social distancing, however the two-metre rule was relaxed to ‘one metre plus’, which involves staying one metre apart plus mitigations which reduce the risk of transmission.

READ: Whitbread, Intercontinental Hotels higher on July reopening date

The new measures only apply in England.

No detailed guidance has been released yet but previous reports suggested safety rules such as ordering from apps and implementing one-way systems.

“Easing social distancing rules will make a material difference to the viability of thousands of firms. The move will also have a significant impact across sectors employing millions of people,” said Carolyn Fairbairn, director-general of business body CBI.

“As hospitality and cultural sectors prepare to re-open, the safety of their staff and customers must come first to maintain confidence.”

The news gave some respite to the long-suffering hospitality stocks such as Revolution Bars Group PLC (LON:RBG), which rose 6% to 28.1p, and JD Wetherspoon PLC (LON:JDW), up 2% to 1,138.91p.

City Pub Group Plc (LON:CPC), which held up well following the collective March plunge, advanced 5% to 111.5p.

However, Fuller, Smith & Turner plc (LON:FSTA) and Mitchells & Butlers PLC (LON:MAB) dipped 1% to 752p and 221.5p respectively.

In the food side, Fulham Shore PLC (LON:FUL) surged 15% to 7.75p while Restaurant Group PLC (LON:RTN) shot up 6% to 71.05p.

Quick facts: Revolution Bars

Price: 20.1 GBX

Market: LSE
Market Cap: £10.06 m

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