Refinitiv Newscasts - UK Week Ahead: Concerns over Indian variant as the UK prepares for a new stage of reopening
14/05/2021 15:30
Click the following link to watch video: https://share.newscasts.refinitiv.com/link?entryId=1_44pedn2w&referenceId=1_44pedn2w&pageId=RefinitivNewscasts Source: Reuters Description: UK government has not ruled out local restrictions or circuit breakers to stop the spread of the Indian variant. Theatres and cinemas prepare to reopen on Monday. Indoor hospitality is expected to resume. Ryanair, Vodaphone and Britvic reporting next week. Investors will keep an eye on Eurozone GDP and UK jobless data. Short Link: https://refini.tv/3odn7rG Video Transcript: A very good afternoon. I'm Natalie Powell, and welcome to a wrap up of the day's top news and an insight into what's coming up in the week ahead. Well, it's all about the Indian variant, and although there's no concrete evidence yet to show if this variant causes more severe illness or makes the COVID vaccines less effective, the speed of growth is concerning. We do say to the government they do need to now go further and allow those extra vaccine supplies to be used in vaccinating the younger working age population, the student population. That is what is needed if we are to make the most decisive and effective intervention into a situation that we can right now. Well, these comments coming as the UK logged more than a thousand cases of the Indian variant in the country. Most cases are in the Northwest and in London. The UK government has not ruled out local restrictions or circuit breakers to stop its spread but says it will adapt its vaccine program to tackle the Indian variant. Now, the timing is tricky. It comes just as the UK economy is reopening. From this Monday, up to six people from three households will be allowed to meet indoors. And friends and families will not need to be socially distant when they meet in private households or gardens. We'll also see the return of cinemas and theaters- hospitality, which since last month has only been able to reopen outdoors, will be able to welcome people inside. As the first female British chef to win three Michelin stars, Clare Smyth, sold out three months of bookings in just 20 minutes when her CORE restaurant said it would reopen from lockdown, underscoring her faith that London is ready to rebound. One of only seven to hold three stars in Britain, Smyth said during the first lockdown last year, she'd been forced to contemplate whether restaurants would continue to exist in their current form and how she could retain her 42 staff. But now, she and the team are really excited to welcome patrons back when the restrictions ease this Monday. It's been a long, long time this one. And I'm super excited. I can't wait to get the guests through the door. It's going to be quite emotional. And I think- I mean, the whole team is absolutely pumping in on fire. Well, to the markets now, and European markets are cautiously recovering from the inflation-sparked jitters earlier in the week. Banks and retail stocks leading those gains. And even though that's underpinning the indices, they're still on course for their worst week since the end of February. Well, to company news now and the corporates of note reporting next week include Ryanair on Monday. Vodafone, Britvic, Imperial Brands reports on Tuesday. Then with Premier Foods Wednesday. And we end the week with easyJet on Thursday and Investec on Friday. Well, elsewhere on the economic front, the biggest risk event comes Tuesday with the Eurozone GDP and UK jobless data followed by UK CPI and Fed minutes on Wednesday. Then on Friday, look out for UK retail sales and PMIs, Eurozone PMIs, and flash consumer confidence in May. Also, keeping an eye on commodities, especially with tension in the Middle East, the ongoing COVID crisis in India, and restart of a fuel pipeline in the United States could also continue to cap gains. Well, that's it for now. I'm Natalie Powell, and this is Reuters