Investments and investor services
FTSE 100 closes in red as traders await Fed chair comments
The Footsie closed the afternoon session down nearly 13 points at 7,536.
Company
Ocado Group PLC
LON:OCDO
Ocado was launched in partnership with Waitrose in January 2002, and delivers quality groceries across selected areas of England and Wales. Our business was conceived with one simple objective in mind: to offer busy people a true alternative to going to the supermarket every week. By doing this, we created a totally new shopping experience, built entirely around our customers’ needs. By fulfilling orders from a dedicated warehouse, we can show virtually live inventory on our webshop, enabling customers to choose from a range of groceries that are actually in stock. By using unique logistics software and satellite navigation systems in our vans, we strive to deliver the right goods at the right time.
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Archive
Bovis Homes, Ocado and Micro Focus all due to report on a busy Tuesday
After a relatively quiet start to the week, the news flow is set to ratchet up on Tuesday as a host of big names publish updates of one kind or another
Investments and investor services
FTSE 100 closes a tad lower as traders are not sure which way to jump
The UK's premier share index finished nearly four points lower at 7,549
Archive
Barratt Developments and Bovis Homes to provide main building bricks in coming week
Aside from the two housebuilders, corporate updates in the coming week will also be delivered by retailers Ocado, Superdry and Dunelm
Ocado market is even bigger than previously thought, says Citi
Citi’s rating of ‘buy’ was reiterated with the share price target hiked to 1,450p from 1300p
Marks and Spencer rights issue receives lukewarm response, but rump placed easily
Never mind eight out of 10 cats ... barely eight out of 10 M&S shareholders wanted new shares, even at a discount
Ocado climbs into vertical farming with acquisition and new joint venture
Online grocery company acquires Europe's largest vertical farm, based in Scunthorpe, and invests in the formation of a new joint venture with US and Dutch vertical farmers
Investments and investor services
FTSE 100 closes higher as trade tensions ease
The UK's index of leading shares finished the first day of the trading week around 46 points higher at 7,378
Ocado hit as Jefferies cuts stance to ‘underperform’ on valuation grounds after strong gains
The US broker's analysts pointed out that Ocado’s valuation “now assumes an unequivocal commercial success of the OSP for its existing customers (and their 38 contracted sheds)”
Investments and investor services
FTSE 100 closes higher despite continued trade worries
The UK's blue-chip benchmark added over 23 points to close at 7,184
M&S expected to narrowly avoid FTSE 100 relegation after rights issue
On Wednesday, M&S shares fell 5.9% to 235.80p as trading in the rights to the upcoming share issue hit the secondary market
Analysts raise doubts on M&S turnaround plan
“The fact that sales are still expected to drop this year suggests the turnaround is still some way off,” said Ian Forrest, investment research analyst at The Share Centre.
M&S confirms £600mln rights issue and dividend cut to fund Ocado joint venture
M&S reported a 9.9% drop in pre-tax profit before adjustments
Archive
FTSE 100 closes slightly ahead but Wall Street shares slide
The Footsie closed out at 7,334 - up around five points, while mid-cap index was firmly lower- down 129 points at 19,307
Marks & Spencer finals to fix FTSE 100 future
High street retailer has sunk to the relegation places in the FTSE 100 index
Archive
Inflation figures to lead macro news on Wednesday, Royal Mail braces for full year figures
Economists are expecting the consumer price index to be well below the recent growth in average earnings at around 1.8% year-on-year in April
Will M&S be too late to the online party? Liberum thinks so…
M&S will have to deal with fierce competition: Waitrose recently unveiled ambitious plans to treble the size of its online business, while Tesco, Sainsbury and Amazon.com have been investing into their delivery propositions for a while
Morrisons edges lower as first-quarter growth misses forecasts
Like-for-like sales growth of just 0.2% in its stores was below the 0.5% analysts had expected, but Morrisons’ boss was relatively pleased with the “robust” performance given the drop-off in consumer confidence
Morrisons suspends deal with Ocado for capacity at Erith after fire destroys Andover warehouse
Ocado said the agreement with Morrisons will give it more room to fulfil other orders
Standard Chartered faces possible shareholder revolt over executive pay plan
The news marks the latest in a series of potential shareholder rebellions over pay increases that see executives’ pensions raised more than ordinary workers.