The M&C20 Leisure index enjoyed a modest up-tick this week, rising 5 points or 0.5% to a four-week high of 1,057.88.
However, this performance lagged that of the FTSE All-Share Index, which rose a full percentage point over the last seven days.
Shares in Greene King, the largest company in the index in terms of market capitalisation, rose in value by 3.5% week-on-week as the market reacted positively to strong sales and profit growth figures announced at yesterday’s annual results presentation.
Prezzo bounced back strongly from last week’s fall to post an 11.6% increase in its share price in a week in which the company confirmed plans to roll out its Cleaver chicken, burgers and ribs restaurant concept.
London pub companies Fullers (up 2.3%) and Young’s (up 1.3%) both made gains.
Meanwhile, there were falls of 3.4%, 1.6% and 1.5% for Marston’s, JD Wetherspoons and Spirit Pub Co respectively. Indeed Marston’s market capitalisation has fallen behind Wetherspoon’s for the first time since the creation of the M&C20 index.
The star among the small caps was Richoux Group, operator of Richoux Restaurants, Zippers, Dean’s Diner and Villagio, whose shares enjoyed a 25% midweek bounce from 15.5p to 19p in advance of the company’s AGM.
