Many of the companies whose shares were hardest hit in recent trading sessions made big gains today, following news of a government support package for businesses during the coronavirus crisis.
After Cineworld lost more than 43% of its value yesterday, closing at just 16p, the company posted a rise of more than 150% today to 53p. The company was the top FTSE All-share riser in the session.
Hollywood Bowl, which fell by 42% yesterday after confirming it is “preparing for a potential temporary closure” of its 10-pin bowling sites, was also among the day’s top risers, closing up 40%.
Pub group Marston’s said today that it expects “significantly lower sales in the coming weeks”, but added: “We have appropriate headroom on both our bank and securitised facilities, supported by a 93% freehold estate.” The company was another of the top risers, up 43%.
Supermarkets and other food retailers also made big gains, with Sainsbury’s, Morrisons and Ocado three of the top four risers in the FTSE 10 index.
The FTSE 100 closed down 4% at 5080, with the FTSE 250 down 6.5% to 13,008.
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