Pub group Mitchells & Butlers was under pressure after Canaccord Genuity downgraded the stock to 'hold' from 'buy' and cut the price target to 285p from 350p.
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UK pubs and restaurants enjoyed an equal uplift in trading over the Christmas and New Year period, as a bumper six weeks for London drove a second consecutive month's improvement.
Pub operator Mitchells & Butlers issued a first quarter trading statement on Friday, covering the 15 weeks to 7 January, with like-for-like sales growth for the year-to-date improving to 1.7%.
London led a rebound for the eating and drinking out sector in November, with good growth in pub sales and a return to annual growth for restaurants, but it was a case of glass-half-full outside the capital.
The FTSE 250 index was modestly lower on Wednesday afternoon, led lower by a group of retail and leisure stocks.
The FTSE 250 index joined the rest of the markets in an up-day on Tuesday, rising 0.93% to just shy of 17,700 by late afternoon led by rises in Rotork, BGEO and Mitie.
Pub group Mitchells & Butlers posted a drop in pre-tax profit for the 52 weeks ended 24 September as like-for-like sales fell and total revenue declined.
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Pub group Mitchells & Butlers reported a drop in full year sales but a rise in the most recent eight weeks of trading, as it reiterated that full-year margins will be below the previous year.
UK large pub and restaurant groups enjoyed better sales in August as Britain took advantage of better weather to eat and drink out.
Pub operator Mitchells & Butlers reported on Wednesday a 0.7% drop in total like-for-like (LFL) sales in the third quarter, blaming wet weather in June and the Euro 2016.
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Trading at larger UK pubs and restaurant groups slowed even further in May, with like-for-like sales down 1.4% year-on-year as a hefty decline at casual dining chains outweighed a small improvement for pubs.
A rise in UK retail footfall in May provided some rare good news for the embattled sector, as the best monthly high street performance for three years outweighed a decline for shopping centres.
The FTSE 250 slipped further into the red late as Thursday wore on, despite having peeped its head above water around midday.
Calculating that Tesco's sales performance at larger stores is likely to be worse than reported and that margins should be "permanently rebased lower", Credit Suisse has cut its earnings estimates and its target price on the supermarket group.
Shares in Mitchells & Butlers gained on Wednesday after HSBC upgraded the stock to 'buy' from 'hold' and raised the target price to 340p from 300p.
The restaurants and pubs sector endured a further decline in like-for-like sales in April, as wavering consumer confidence mixed with inclement weather.
Homebuilders were under the cosh at the end of the week, dragged lower by a negative reaction to the latest trading statement out of Berkeley Group.