The next chapter 6 December 2019 Lexington managing director Julia Edmonds on taking the helm at the boutique caterer and her people plans for the future
In this week's issue... The next chapter Lexington managing director Julia Edmonds on taking the helm at the boutique caterer and her people plans for the future
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Interest rate threat hits sector stocks

01 January 2000
Interest rate threat hits sector stocks

The threat of a rise in interest rates sent share prices tumbling across the pub and hotel sectors.

Among restaurant chains the hardest hit included Pizza-Express, whose price fell by 7.66%, and Oriental Restaurants, where shares dropped by 8.47% to 286.5p - a dramatic U-turn on the previous week's rise of 16.3%.

Bass, poised to sell BLMS, its amusement machine service business, also saw its shares fall, by 7.14%, while Granada Group ended the week on a sour note with its prices down 8.96%.

Stakis, despite just announcing strong trading figures for its third successive quarter, with occupancy improved by 3% and room rates up by 8%, was the poorest performer of the week with its shares down by 9.72%.

City analyst Ian Berry said: "Shares have fallen due to fears of a slow-down in the economy and higher interest rates."

Meanwhile, with the investigation into former accounting procedures at Queens Moat Houses continuing, its shares fell slightly by 0.77%.

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