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The Markets
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The Markets
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The Markets
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Ocado leads FTSE 100 risers as bounce from six-year low continues

Top riser on the FTSE 100 on Friday was Ocado Group PLC (LSE:OCDO), up 7% to 457.15p as it continued to rebound from its recent six-year low.

Helping momentum on the day was news from its US customer Kroger, which announced strong quarterly growth in its digital business, with delivery powered by technology from the British company leading the way.

Ocado is currently the most shorted stock in the Footsie, with around 6% of its shares on loan, according to the ShortTracker website.

The online delivery technology company's shares had almost halved in the first five months of the year, from almost 650p to 343p - narrowly avoiding relegation from London'sblue chip index - but have bounced over 30% over the past two weeks.

Longtime watchers of Ocado shares will know that it has a history of rollercoaster rides up and down.

Recent analyst opinion has been mixed, with BNP Paribas Exane removing its negative rating this week, but RBC Capital Markets warning the company is still at risk of needing more capital and downgrading its price target.

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