Morning all, it’s Jack here with Friday’s placeholder so drop by and leave a comment if anything catches your eye. Paul’s back next week.

The week started off with further lockdown announcements and it feels like yesterday money was leaving the market ahead of what could be a bumpy winter. There are ongoing whispers of circuit breaks and all the rest of it - how that all plays out is not in our hands so I don’t get too involved. I just focus on the controllables, ie. my own portfolio, but I do think we have to be braced for some tough days on the market.

Early indications suggest a positive start today though, with the FTSE 100 up 45 points or so.

Yesterday’s markdown was understandably felt most keenly in stocks directly affected by potential additional lockdowns. I retain my view that there will be some good mid to long term contrarian opportunities there, but for now most of the share price action will be news driven and volatile.

It’s not my usual patch, but there are also some strikingly ‘cheap’ blue chips out there. Royal Dutch Shell (LON:RDSB) below 1,000p, Rolls-Royce below 200p, Lloyds below 30p… It seems yesterday most of the damage was felt in the FTSE 100.


I’m not tempted personally. I own one large cap, Games Workshop (LON:GAW) and the only other one I’m considering is Computacenter (LON:CCC) .

Anyway, following on from yesterday’s coverage of a couple of Leisure stocks, Loungers has released an update. This is a well-regarded roll out so let’s see what it has to say on current conditions and outlook...

Loungers (LON:LGRS)

Share price: 140p (pre-market open)

Shares in issue: 102,400,000

Market cap: £143.4m

Loungers (LON:LGRS) operates 168 all-day cafe/bar/restaurants across England and Wales. It’s done a great job of attracting trade throughout the day - a big issue for other operators that often have to capitalise on a few key trading hours.

This is a very brief update for the 24 weeks to 4 October. It looks like the bar group continues to outperform the market, with all 168 sites open and like-for-like sales up an impressive 25.1% over the 13 weeks from 4 July to 13 October. This probably includes a…

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