Less Ads, More Data, More Tools Register for FREE

Pin to quick picksOcado Share News (OCDO)

Share Price Information for Ocado (OCDO)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 359.20
Bid: 359.00
Ask: 359.50
Change: 1.90 (0.53%)
Spread: 0.50 (0.139%)
Open: 362.80
High: 362.80
Low: 349.00
Prev. Close: 357.30
OCDO Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Ocado jumps 40%, BP earnings, China, Fed lift mood

Tue, 01st Nov 2022 09:36

Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at .

OCADO JUMPS 40%, BP EARNINGS, CHINA, FED LIFT MOOD (0820 GMT)

Ocado shares surged almost 40%, adding over 1.5 billion pounds in market value to the British online supermarket as it entered the South Korean market through a partnership deal with Lotte Shopping.

European shares also got support from blowout earnings from BP, and by a surge in basic resources stocks. Hopes that the U.S. Federal Reserve will signal that it could slow the pace of its rate hikes next month also lifted the mood.

The pan-European STOXX 600 index jumped 1%, after ending October at six-week highs. Leading the pack are the basic resource index, which is up 3% and oil & gas stocks, which are up 1%.

BP reported third-quarter profit of $8.15 billion, easily beating expectations, boosted by very strong natural gas trading as the company announced another $2.5 billion in share repurchases.

Commodities stocks also got a lift from China after an unverified note on social media suggested China may be planning to ease strict COVID curbs in March. The note triggered a sharp rebound following last month's savage selloff.

TRICK OR TREAT? (0713 GMT)

There's a sense of cheer among investors before the Fed's mid-week rate decision as markets seem to be pricing in an expected treat from the U.S. central bank.

Risk-on appetite is gradually coming back as global stocks flirt with their strongest levels in just over a month while the mighty dollar slips from a one-week high.

The Fed is set to raise rates by 75 basis points for the fourth straight time, bringing the target overnight lending rate to a 3.75%-4.00% range. But U.S. central bankers are likely to intensify a debate over when to downshift to smaller interest rate hikes to avoid sending the world's biggest economy into a tailspin.

Analysts at BlackRock Investment Institute are, however, still underweight on stocks as they see central banks on a path to overtighten policy.

And in Europe, there's little sign that inflation is peaking.

Consumer price growth in the 19 countries sharing the euro accelerated to 10.7% last month from 9.9% a month earlier, far outstripping expectations in a Reuters poll for 10.2%.

The broadening price pressures point to likely more interest rate increases from the European Central Bank after it raised rates by 75 basis points despite highlighting concerns about the economy.

"We think the ECB is still raising rates into a recession triggered by the energy shock and its hikes – and it will only stop once it sees the scale of economic damage caused," said the analysts from BlackRock Investment Institute.

On Tuesday, business surveys in Asia showed that the region's factory output weakened in October as global recession fears and China's zero-COVID policy hurt demand, adding to persistent supply disruptions and darkening recovery prospects.

Down Under, the Reserve Bank of Australia stuck with a 25 basis points rate hike as widely expected, while revising up its inflation outlook.

On the corporate front, BP is in focus as it reports results. On Monday, U.S. President Joe Biden called on oil and gas companies to stop 'war profiteering' and threatened a windfall tax on their record profits as he battles high pump prices with elections coming in a week.

Key developments that could influence markets on Tuesday:

Fed kicks off two-day meeting

U.S. Oct ISM

Europe earnings: BP, Rentokil

U.S. earnings: Pfizer, Prudential

EUROPEAN STOCKS SEEN HIGHER, INVESTORS AWAIT FOR FED, BOE (0645 GMT)

European futures are pointing to a start of the day in the black for bourses across the region as investors await for the Bank of England and the U.S. Federal Reserve meetings this week for any signs of easing in their aggressive monetary policy tightening cycles.

The Fed and the BoE are widely expected to raise their benchmark lending rate by 75 basis points this week in an effort to tame surging inflation. But investors remain hopeful the central banks will give signs they will start to slow their interest rates hiking paths in December or early next year.

On Monday, Eurostat data showed inflation in the 19 countries sharing the single currency accelerated to 10.7% in October from 9.9% a month earlier, beating expectations in a Reuters poll for 10.2% and way higher than the European Central Bank's 2% inflation target.

More News
12 Sep 2023 08:46

TOP NEWS: UK grocery price inflation cools to lowest level in a year

(Alliance News) - Annual grocery price inflation in the UK decelerated to 12.2% in the four weeks that ended September 3, from 12.7% a month before, according to survey data from Kantar on Tuesday.

Read more
6 Sep 2023 14:54

Crisis-hit NatWest picks Haythornthwaite as chairman

Ocado chair set to take over as NatWest chair in April

*

Read more
6 Sep 2023 14:03

UPDATE: NatWest confirms Ocado's Haythornthwaite as chair from April

(Alliance News) - NatWest Group PLC on Wednesday confirmed it has appointed Rick Haythornthwaite as its new chair from April 15 next year, the move coming less than two months after the bank replaced its chief executive amid a row over the de-banking of UK politician Nigel Farage.

Read more
6 Sep 2023 13:43

NatWest confirms Haythornthwaite will join as chair

Sept 6 (Reuters) -

Read more
6 Sep 2023 13:18

PRESS: NatWest picks former Centrica chair as new chair - Sky News

(Alliance News) - Rick Haythornthwaite, former chair of British Gas-owner Centrica PLC, will succeed Howard Davies as chair of NatWest Group PLC, Sky News reported on Wednesday.

Read more
6 Sep 2023 09:32

LONDON BROKER RATINGS: Shore says 'buy' B&M; Peel Hunt likes Halfords

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning:

Read more
5 Sep 2023 08:51

LONDON MARKET OPEN: Stocks fall; oil prices stoke inflation fears

(Alliance News) - Stock prices in London opened lower on Tuesday, with the FTSE 100 index weighed down by retailers and stocks with Chinese exposure.

Read more
24 Aug 2023 08:23

UK supermarket Asda launches fresh round of price cuts

LONDON, Aug 24 (Reuters) - British supermarket Asda on Thursday followed rivals Ocado Retail and Sainsbury's in announcing a fresh round of price cuts, adding to the downward trajectory in UK food inflation.

Read more
23 Aug 2023 10:24

Britain's Ocado Retail and Sainsbury's cut prices again

Ocado Retail cuts prices of 200 products

*

Read more
23 Aug 2023 00:01

Britain's Ocado Retail cuts prices again

Heinz beans, Quaker oats among price reductions

*

Read more
22 Aug 2023 16:56

LONDON MARKET CLOSE: FTSE 100 snaps seven day losing streak

(Alliance News) - Stocks in London were higher at the close on Tuesday as markets celebrated better-than-expected public sector borrowing figures in the UK, and hoped that Chancellor Jeremy Hunt may have enough firepower in government coffers to enact some pre-election tax cuts.

Read more
15 Aug 2023 11:56

LONDON MARKET MIDDAY: FTSE 100 down as wage growth sparks rate fears

(Alliance News) - Stock prices in London were lower at midday on Tuesday, as wage growth fuelled talks of the Bank of England's next move.

Read more
15 Aug 2023 08:57

TOP NEWS: UK grocery price inflation eases; Ocado loses market share

(Alliance News) - Grocery price inflation in the UK cooled by just over two percentage points to 12.7% in the four weeks that ended August 6, the second sharpest slowdown in price in 15 years, according to survey data from Kantar, with staples such as milk and vegetable oil seeing price cuts.

Read more
27 Jul 2023 16:09

Highly shorted Ocado almost trebles in value from June lows

MILAN, July 27 (Reuters) - Shares in Ocado swung widely on Thursday following a two-month rally that has kept traders guessing over potential suitors circling the British online supermarket.

Read more
27 Jul 2023 11:30

Ocado set to treble in value from June lows

MILAN, July 27 (Reuters) - Shares in Ocado continued their ascent on Thursday and looked set to treble in value from the lows in early June in a rally that has kept traders guessing over potential suitors circling the British online supermarket.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.