Ticker OCDO

Today's data summary

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As of 10:37 22 Oct 2018
Market cap. Pound sterling
5,977.95 million
As of 10:37 22 Oct 2018

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Ocado leads FTSE 100 fallers

Ocado van
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The FTSE 100 has extended falls and is now down 0.90% at 7,442.89.

Online grocery delivery company Ocado is now leading the blue chip fallers, down 5.4% at 865p. It is closely followed by luxury fashion house Burberry, down 5% at £19.25.

Barclays is the biggest riser, up 1.4% at 174.9p.

Clothes retailer Ted Baker is leading the FTSE 250's fallers, down 9.1% at £20.97 following a fall in interim pre-tax profits.

Mining group Ferrexpo is the top riser, up 8.35% at 227.1p.

The FTSE 250 is down 0.80% at 20,137.70.

Ocado leads FTSE 100 risers

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The FTSE 100 is now down 0.35% at 7,651.80.

Ocado, the online grocery delivery company, is leading the risers with its share price up 4.7% at £11.32.

House builder Barratt Developments is the biggest faller, down 2.4% at 519.4p.

The FTSE 250 is down 0.51% at 20,818.52.

Barratt shares rise on falling stock market

Barratt Developments
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Barratt Developments is leading the FTSE 100 risers this morning after the house builder said that it expects to beat its profit target.

Its share price is up 1.26% at 489p.

Its pre-tax profit is expected to reach £835m, ahead of a forecast £812m.

Grocery technology group Ocado tumbled 6.3% to £10.34, leading the FTSE 100 fallers.

Overall the FTSE 100 is down 1.1%, or 89.42 points, at 7,602.62.

The FTSE 250 is also off 1.1%, or 245.17 points, at 20,606.39.

London markets hold steady

London Stock Exchange

It's steady as she goes in lunchtime trading. The FTSE 100 is up 16.51 points, or 0.21%, at 7,704.51.

Following its interim results, online grocery retailer Ocado Group led the blue chip risers with its share price up 5.2% at £10.65.

Cardboard maker DS Group was the biggest faller, down 5.3% at 490.15p.

The FTSE 250 is ahead 13.18 points, or 0.063%, at 20,834.31.

FTSE 100 heads upwards

FTSE 100 graph

After briefly falling into the red this morning, the FTSE 100 seems to be steadily heading upwards.

It's up 0.27%, or 21 points, at 7,709.

The biggest climbers in the blue chip index are Ocado, up 3.3% to 1,1,09.75, and GVC Holdings, which has risen 2.83% to 1090.50.

'Ignore Ocado loss'

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Tom Stevenson, investment director from Fidelity Personal Investing’s share dealing service has been looking at Ocado's £9m loss for the first half. Ignore it, is his advice. He said:

Ocado’s first half loss reflects investment in an exciting future. No one is really focused on its results in the short term. Rather it is the enormous potential of what looks like becoming the platform of choice for the online grocery business. Ocado is no more a retailer than Amazon is a bookshop. It is rather a cutting edge technology business and in pole position to capitalise on a forecast eightfold growth in online food retail over the next seven years.

Ocado loses £9m in the first half

Ocado lorries

Grocery delivery firm Ocado lost £9m in the first half-year to 3 June, compared to a profit of £7.7m in the same period the previous year.

"This is a transformational period for Ocado," explained boss Tim Steiner. "We are confident that we have the ability to scale-up the business, deliver on our commitments, drive sustainable growth and deliver value to all our stakeholders."

Group revenue climbed 12% to £799.9m in the period.

Ocado had warned in February that investment in its UK distribution centres and software platform would put a brake on earnings this year.

Ocado shares roar ahead

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Ocado shares are up almost 4% today.

The company has become a pin-up star among investors since it announced in May that it had signed a deal to sell its warehousing and delivery technology to US grocery giant Kroger.

Ocado shares have almost doubled since that announcement.

Earlier this week one analyst said Ocado could become the Microsoft of retailing, meaning its technology could become as ubiquitous at Microsoft's Windows operating software.

Back in 2014, when the company was wracking up heavy losses, investors dismissed Ocado as a laggard in online groceries.

Carrefour seals grocery deal with Google

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French supermarket giant Carrefour has signed a deal to sell its goods through Google.

From next year, Carrefour's groceries will be available on Google's new dedicated shopping site in France or through the company's operated systems such as connected speakers and voice-assisted devices.

It follows a deal between French rival Groupe Casino and UK online grocer Ocado.

As part of the agreement, Ocado will build an automated warehouse to serve the Greater Paris area and the Normandie and Hauts de France regions.

Another boost for Ocado shares

Ocado vans

Shareholders in online grocer Ocado have had much to smile about recently. A series of deals to supply its technology to retailers overseas - most notably with US retail giant Kroger - have pushed its share price up by more than 150% this year.

And the shares have received a further boost today. A double upgrade to "outperform" from analysts at Bernstein has pushed the share price up another 6.3%.