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Nov. 25, 2021, 7:22 a.m. EST

International Hotels Group climbs as Jefferies says time to buy leisure, while Vivo Energy soars on buyout

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By Barbara Kollmeyer

U.K. stocks struggled just above the flat line on Thursday, supported by gains for International Hotel Group and Mitchells & Butlers after a positive analyst note, while shares of Vivo Energy soared on news of a $2.3 billion takeover.

The FTSE 100 index /zigman2/quotes/210598409/delayed UK:UKX -1.20% inched up 0.1% to 7,293, but for the week so far has gained nearly 1%, bucking a weaker trend across European indexes. The pound /zigman2/quotes/210561263/realtime/sampled GBPUSD -0.3456% was steady at $1.3325.

Weighing on the downside were resource stocks, with energy giant Royal Dutch Shell /zigman2/quotes/201538663/delayed NL:RDSA -2.33% /zigman2/quotes/205095589/composite RDS.A -1.70% fell 0.8%, while miners Rio Tinto /zigman2/quotes/202627887/composite RIO -2.36% /zigman2/quotes/208934945/delayed UK:RIO -2.20% and Glencore /zigman2/quotes/201400686/delayed UK:GLEN -0.59% fell 1% each.

Oil prices /zigman2/quotes/209723049/delayed CL00 -0.84% finished slightly lower on Wednesday as U.S. inventories rose and traders waited for a response from OPEC and its allies to a U.S. reserve release earlier this week.

U.S. markets will be closed Thursday for the Thanksgiving Day holiday, and will reopen on Friday for a shortened session.

International Hotels Group /zigman2/quotes/204459500/composite IHG +0.07% /zigman2/quotes/202865596/delayed UK:IHG -1.01% led the FTSE 100 gainers, up 2.7% after a double upgrade to buy from analysts at Jefferies, where a team led by James Wheatcroft predicting pent-up demand will lead to more investor attention on leisure. “Encouraging data puts the focus on hotels for 2022,” he said, adding that they also remain positive on the gaming sector.

As well, the analysts expect “low-ticket, highly accessible leisure activities such as pubs, restaurants , cinemas and caterers to bounceback rapidly as the backdrop normalizes, boosted by market share gains. Whitbread /zigman2/quotes/207954631/delayed UK:WTB -1.28% , Cineworld /zigman2/quotes/206525056/delayed UK:CINE -5.62% and JD Wetherspoon /zigman2/quotes/209658419/delayed UK:JDW -3.11% , Mitchells & Butlers /zigman2/quotes/209008939/delayed UK:MAB -2.85% are all rated buy at Jefferies.

Mitchells & Butlers shares rose 4% and Whitbread rose 2%. Cineworld shares slipped 1% and JD Wetherspoon was unchanged. The group also lifted Melia Hotels International /zigman2/quotes/204223740/delayed ES:MEL -0.73% in Spain to buy, and those shares rose 4.6%.

On the FTSE 250 /zigman2/quotes/210598417/delayed UK:MCX -1.99% , shares of Vivo Energy /zigman2/quotes/202779157/delayed UK:VVO -1.05% surged nearly 20% after the Africa-focused retailer and distributor of fuels and lubricants agreed to a $2.3 billion takeover by VIP II Blue B.V., a wholly-owned, indirect subsidiary of Vitol Investment Partnership II Ltd, independent energy marketing and trading company.

/zigman2/quotes/210598409/delayed
UK : FTSE UK
7,494.13
-90.88 -1.20%
Volume: 734,087
Jan. 21, 2022 4:56p
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/zigman2/quotes/210561263/realtime/sampled
US : Tullett Prebon
1.3553
-0.0047 -0.3456%
Volume: 0.0000
Jan. 21, 2022 4:59p
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/zigman2/quotes/201538663/delayed
NL : Netherlands: Euronext Amsterdam
21.62
-0.52 -2.33%
Volume: 14.16M
Jan. 21, 2022 5:38p
P/E Ratio
44.89
Dividend Yield
3.64%
Market Cap
€164.99 billion
Rev. per Employee
€2.16M
loading...
/zigman2/quotes/205095589/composite
US : U.S.: NYSE
$ 48.65
-0.84 -1.70%
Volume: 6.76M
Jan. 21, 2022 4:00p
P/E Ratio
41.44
Dividend Yield
2.61%
Market Cap
$187.21 billion
Rev. per Employee
$2.58M
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/zigman2/quotes/202627887/composite
US : U.S.: NYSE
$ 74.36
-1.80 -2.36%
Volume: 6.11M
Jan. 21, 2022 4:00p
P/E Ratio
6.49
Dividend Yield
9.21%
Market Cap
$121.29 billion
Rev. per Employee
$1.22M
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/zigman2/quotes/208934945/delayed
UK : U.K.: London
5,457.00 p
-123.00 -2.20%
Volume: 4.35M
Jan. 21, 2022 4:35p
P/E Ratio
6.44
Dividend Yield
11.47%
Market Cap
£89.48 billion
Rev. per Employee
£909,114
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/zigman2/quotes/201400686/delayed
UK : U.K.: London
410.05 p
-2.45 -0.59%
Volume: 44.65M
Jan. 21, 2022 4:35p
P/E Ratio
37.52
Dividend Yield
2.16%
Market Cap
£53.68 billion
Rev. per Employee
£843,117
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/zigman2/quotes/209723049/delayed
US : U.S.: Nymex
$ 84.83
-0.72 -0.84%
Volume: 488,219
Jan. 21, 2022 4:59p
loading...
/zigman2/quotes/204459500/composite
US : U.S.: NYSE
$ 66.82
+0.05 +0.07%
Volume: 344,410
Jan. 21, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$12.15 billion
Rev. per Employee
$179,588
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/zigman2/quotes/202865596/delayed
UK : U.K.: London
4,889.00 p
-50.00 -1.01%
Volume: 531,670
Jan. 21, 2022 4:35p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
£8.97 billion
Rev. per Employee
£134,557
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/zigman2/quotes/207954631/delayed
UK : U.K.: London
3,084.00 p
-40.00 -1.28%
Volume: 410,317
Jan. 21, 2022 4:35p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
£6.22 billion
Rev. per Employee
£35,221
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/zigman2/quotes/206525056/delayed
UK : U.K.: London
41.95 p
-2.50 -5.62%
Volume: 9.43M
Jan. 21, 2022 4:35p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
£575.97 million
Rev. per Employee
N/A
loading...
/zigman2/quotes/209658419/delayed
UK : U.K.: London
902.50 p
-29.00 -3.11%
Volume: 211,042
Jan. 21, 2022 4:35p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
£1.18 billion
Rev. per Employee
£19,796
loading...
/zigman2/quotes/209008939/delayed
UK : U.K.: London
259.20 p
-7.60 -2.85%
Volume: 879,520
Jan. 21, 2022 4:35p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
£1.54 billion
Rev. per Employee
£24,565
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/zigman2/quotes/204223740/delayed
ES : Spain: Madrid
6.53
-0.05 -0.73%
Volume: 1.10M
Jan. 21, 2022 5:38p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
€1.44 billion
Rev. per Employee
€22,759
loading...
/zigman2/quotes/210598417/delayed
UK : FTSE UK
22,263.24
-451.74 -1.99%
Volume: 266,598
Jan. 21, 2022 4:57p
loading...
/zigman2/quotes/202779157/delayed
UK : U.K.: London
131.40 p
-1.40 -1.05%
Volume: 1.19M
Jan. 21, 2022 4:35p
P/E Ratio
15.66
Dividend Yield
3.08%
Market Cap
£1.66 billion
Rev. per Employee
£2.03M
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