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Ocado shares jump on loan deal and share issue

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Market Data

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Markets

UK markets
UK markets % change Value
Change
+0.03%
7558.59
+2.21
-0.09%
20444.36
-17.90
Europe markets
Europe markets % change Value
Change
-0.62%
552.95
-3.43
-0.08%
5344.93
-4.09
-0.22%
12210.55
-26.62
-0.14%
3372.94
-4.62
-0.11%
9417.30
-10.10
US markets
US markets % change Value
Change
+0.43%
25669.32
+110.59
+0.13%
7816.33
+9.81
+0.33%
2850.13
+9.44
Asia markets
Asia markets % change Value
Change
+0.75%
37947.88
+284.32
+0.42%
27213.41
+113.35
+0.35%
22270.38
+78.34
As of 09:21 18 Aug 2018

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GBP
% change One £ buys
Change
GBP against Euro
+0.01%
€1.1146
0.0000
GBP against Yen
-0.04%
¥140.8850
-0.0500
GBP against USD
-0.01%
$1.2750
0.0000
USD
% change One $ buys
Change
USD against Euro
+0.03%
€0.8742
0.0000
USD against GBP
+0.02%
£0.7843
0.0000
USD against Yen
0.00%
¥110.5050
0.0000
Euro
% change One € buys
Change
Euro against GBP
-0.01%
£0.8972
0.0000
Euro against Yen
-0.04%
¥126.4050
-0.0500
Euro against USD
0.00%
$1.1439
0.0000
Yen
% change One ¥ buys
Change
Yen against Euro
+0.04%
€0.0080
0.0000
Yen against GBP
+0.04%
£0.0070
0.0000
Yen against USD
0.00%
$0.0090
0.0000
As of 09:19 18 Aug 2018

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Oil
Commodity % change dollars per barrel
Change
Brent Crude Oil Futures
+0.56%
71.83
+0.40
WTI Crude Oil Futures
+0.69%
65.91
+0.45
Gold
Commodity % change dollars per ounce
Change
Gold (Forex Index am fix)
-0.25%
1176.70
-2.95
Gold (Forex Index pm fix)
-0.17%
1178.40
-2.00
Natural Gas
Commodity % change dollars per million BTU
Change
Natural Gas (Henry Hub Futures)
+1.50%
2.95
+0.04
As of 09:20 18 Aug 2018

Shares in Ocado have closed up by almost a quarter after the online grocer said it had extended a key loan agreement and seen improved sales.

The company also announced plans to raise a further £35.8m through a new share issue, helping to push its share price up by 14 pence to 75p.

For the 14 weeks to 11 November, total sales rose by 11% against a year ago.

Ocado made a £2.2m loss last year, compared with a £12.2m loss in 2010, but sales have risen sharply this year.

The company's existing lenders, Barclays, HSBC and Lloyds, agreed to extend the £100m loan facility for 18 months to July 2015.

The new shares will be offered to existing institutional investors, including members of the board.

"We are delighted that Ocado has achieved such strong endorsement from both its institutional and other shareholders and its lenders who support our confidence in our business model and growth prospects," said the company's chief executive Tim Steiner.

The additional money will be used for marketing and expanding non-food products, the company said.

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