Proactive tech analyst Richard Jeans explains how UK tech stocks have lagged the broader markets this week, but only slightly. Jeans highlights Ocado, which despite record sales failed to deliver on the share price.
Despite grocery sales rising 35% to £2.2bn, shares fell due to another pre-tax loss for the year - £44m. Added to this was the projected increase in capital spending, which will rise to £700m in the coming year.
In the UK, over the next couple of weeks there are a number of companies with June year ends reporting their December interim results before the December final results seasons kicks off in March. Blancco Tech and Transense Tech report their interim results this week. Next week, across the pond it is Presidents' Day, Washington’s Birthday on Monday.