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Pin to quick picksOcado Share News (OCDO)

Share Price Information for Ocado (OCDO)

London Stock Exchange
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Share Price: 352.10
Bid: 325.00
Ask: 518.60
Change: 0.00 (0.00%)
Spread: 193.60 (59.569%)
Open: 0.00
High: 0.00
Low: 0.00
Prev. Close: 352.10
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Weak pound boosts exporters in FTSE 100; Ocado extends rally

Mon, 14th Nov 2022 17:29

Indivior up on deal to buy Opiant Pharma

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Informa lifts annual earnings view as demand improves

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UK budget, due later in the week, in focus

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FTSE 100 up 0.9%, FTSE 250 flat

Nov 14 (Reuters) -

The UK's export-oriented FTSE 100 climbed on Monday supported by a weaker pound as traders braced for the government's fiscal statement later this week and with a stronger dollar weighing on the British currency.

The FTSE 100 closed 0.9% higher, with Ocado Group up 14% and leading gains.

"Ocado saw the largest drop in short interest in October, helping the stock extend recent gains," said Victoria Scholar, head of investment at Interactive Investor.

Shares of the online supermarket and technology group have surged this month after it entered South Korea through a partnership deal with Lotte Shopping, Scholar added.

"The stock is now up more than 90% and is at the top of the FTSE 100 today as investors turn bullish on the supermarket technology business," she added.

Weakness in the pound against a strong dollar boosted export-oriented companies such as Unilever and British American Tobacco.

Sterling fell ahead of British Chancellor Jeremy Hunt's autumn statement on Thursday, when he is expected to set out tax rises and spending cuts.

"The UK government is still on a report card, being closely monitored after the perceived economic bad behaviour of the short-lived (Liz) Truss administration," said Susannah Streeter, markets analyst at Hargreaves Lansdown.

"That's why Prime Minister Rishi Sunak and his Chancellor Hunt have been priming the nation this weekend to expect widespread tax increases, and a cut back of spending in the Autumn Statement."

Informa Plc jumped 5.8% on raising its full-year earnings outlook, pushing the broader FTSE 350 media index 1.5% higher.

Indivior gained 2.4% after it said it would acquire Opiant Pharmaceuticals for approximately $145 million in cash. The broader healthcare index was up 2.5%.

British miners added 0.6% as copper prices jumped on the Chinese government offering support to its battered property sector, which consumes a vast amount of metals.

The domestically-focused FTSE 250 midcap index was subdued by the close after marking its biggest weekly gain in almost two years on Friday. (Reporting by Shashwat Chauhan and Bansari Mayur Kamdar in Bengaluru; editing by Uttaresh.V and Ken Ferris)

More News
22 May 2024 10:08

M&S doubles down on refusal of final payment for Ocado Retail

LONDON, May 22 (Reuters) - Marks & Spencer reiterated its position on Wednesday that it does not have to make a final payment to Ocado Group for its share of the Ocado Retail online supermarket joint venture.

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21 May 2024 09:12

TOP NEWS: Food price inflation at lowest level since October 2021

(Alliance News) - Food price inflation fell for the fifteenth month in a row while sales ticked higher, figures on Tuesday showed.

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21 May 2024 08:00

UK grocery price inflation falls to 2.4%, says Kantar

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Grocery inflation at lowest level since Oct 2021

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13 May 2024 09:41

LONDON BROKER RATINGS: BAE Systems and Mondi cut to 'neutral'

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and on Friday:

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9 May 2024 09:53

LONDON BROKER RATINGS: NatWest target raised, other lenders backed

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

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7 May 2024 09:51

LONDON BROKER RATINGS: AstraZeneca target raised; Antofagasta lowered

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning and Friday:

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2 May 2024 17:06

FTSE 100 boosted by strong earnings from Shell, StanChart

StanChart jumps after posting a 5.5% rise in pretax profit

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2 May 2024 08:00

Ocado, Lidl and M&S are UK's fastest growing grocers, says NIQ

LONDON, May 2 (Reuters) - Online supermarket Ocado , discounter Lidl and upmarket food seller Marks & Spencer were Britain's fastest growing grocers over the last quarter, industry data showed on Thursday.

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29 Apr 2024 17:13

Ocado pay policy opposed by 19% of votes cast at annual meeting

LONDON, April 29 (Reuters) - Some 19% of votes cast at Ocado's annual shareholder meeting on Monday opposed the online grocer and technology group's proposed new pay policy that could see boss Tim Steiner pick up a bonus share award of up to 15 million pounds ($19 million).

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24 Apr 2024 09:02

LONDON BROKER RATINGS: Investec cuts Hipgnosis Songs Fund to 'hold'

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

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24 Apr 2024 07:42

LONDON BRIEFING: Lloyds profit takes hit; Jet2 cuts guidance

(Alliance News) - Stocks in London are set to open higher on Wednesday, as the release of some key US data edges closer

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23 Apr 2024 17:12

UK's FTSE 100 hits record peak; Associated British Foods surges

Associated British Foods jumps after forecasting growth

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23 Apr 2024 12:00

LONDON MARKET MIDDAY: FTSE 100 pushes to new high; AB Foods surges

(Alliance News) - The FTSE 100 hit another intraday high on Tuesday, driven by data providing some "fresh optimism" about the UK economy.

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23 Apr 2024 08:57

Shoppers clamber for deals as grocery inflation slows further

(Sharecast News) - UK households collectively saved £1.3bn on supermarket deals over the last four weeks, equating to £46 per household, according to fresh industry data released on Tuesday.

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23 Apr 2024 08:54

LONDON MARKET OPEN: AB Foods profit soars boosting interim dividend

(Alliance News) - Stock prices in London continued to build on Monday's gains early on Tuesday, thanks to sentiment boosted by the prospect of interest rate cuts.

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