Hospitality and liquor shares rise as SA heads to level-2 lockdown
The share price price of Tsogo Sun Hotels was up 18% in early trade on Monday, while City Lodge and Sun International also saw strong gains
JSE-listed counters dependent on tourism and liquor sales rose on Monday ahead of an easing of Covid-19 restrictions on Tuesday.
President Cyril Ramaphosa announced on Saturday night that restrictions on interprovincial travel, liquor and tobacco sales, and restaurants would be lifted as SA moves to level 2 of the risk-adjusted strategy at midnight on Monday.
The share of Tsogo Sun Hotels jumped as much as 18.5% to R2.49 in morning trade on Monday, while Sun International rose as much as 13% to R13.80, and was on track for its best day in about two months.
City Lodge rose as much at 14.36% to R6.29, an almost three-month high.
Distell was up 2.61% to R78.50.
Hospitality and liquor shares had risen last week, when there was speculation that a lifting of restrictions was imminent.
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