Ocado sales surge by 30pc after flotation September 7, 2010 ONLINE grocer Ocado reported a 30 per cent jump in third-quarter sales as it seeks to boost confidence in the business following a turbulent initial public offering (IPO) in July. Ocado, whose shares are trading 13 per cent below an IPO price which had already been cut by almost a quarter from the company’s original [...]
Morrison to offer internet sales September 5, 2010 Dalton Philips, the new chief executive at supermarket Wm Morrison, will use his first big presentation to the City to unveil plans to move into online grocery shopping this Thursday. The announcement will be part of the firm’s half-year results. Analysts have predicted a pre-tax profit of around £400m, a rise of 10 per cent [...]
THE TIPSTER September 5, 2010 WITH gold trading at $1,246, it feels like it has already had most of its upside factored in. Silver looks much more attractive at $19.72, which is well off its highs of $21.35. WorldSpreads offers a $19.71-19.74 spread. It has been a difficult time for food delivery firm Ocado since its flotation, with shares falling [...]
Jupiter gamble paying off for now August 24, 2010 FUND management group Jupiter defied the odds earlier this year when it pressed ahead with a stock market flotation despite concerns that it was an injudicious time to do so. First there were general worries about market volatility and by June more than 30 companies had already shelved plans to float, including London Eye owner [...]
Pinewood investor ups ante on Grade August 22, 2010 MICHAEL Grade has come under fresh fire for his performance as chairman at Pinewood Studios, with activist investor Crystal Amber calling another meeting at this week’s results announcement to discuss his departure from the firm. “We are meeting with the management team on Wednesday, and are in correspondence with other shareholders,” Crystal Amber chief executive Richard [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 18, 2010 FINANCIAL TIMES EXXON ABANDONS ITS $4BN BID FOR GHANA OIL STAKE Following months of battle with Accra, ExxonMobil, the world’s biggest western oil company, has given up trying to acquire a share of Ghana’s giant Jubilee oil field from Kosmos, the American oil company. The $4bn deal was heavily opposed by Ghana’s government and its [...]
LSE’s Indian adventure gives hope for future July 28, 2010 Stock exchanges continue to be a hot topic for debate both in the City and the wider global markets. Global equity issuance may be at its lowest point since 2005, with just $309bn (£198.2bn) raised in the first half of 2010 as sovereign debt fears weighed heavy, but interest in market developments and competition remains [...]
Ocado fails to recoup early loss in value July 26, 2010 NEWLY floated Ocado failed to recoup the losses it made in last week’s unofficial, grey market trading, yesterday closing 16p shy of the 180p it floated at just over a week ago. On its first full day of official trading Ocado’s shares started as low as 159.25p before finishing up three per cent at 164p. [...]
Deadline over for Ocado’s retail shares July 22, 2010 OCADO last night closed the window of opportunity for retail investors to cancel their application to buy shares in the firm. Analysts warned there could now be a backlash among small investors who do not realise they are over-paying on the market price. Customers and staff had been invited to buy stock as part of [...]
Ocado shares tumble after its flotation July 21, 2010 OCADO’S share price tumbled yesterday as investors gave the thumbs down to its stock, even at its massively reduced valuation. Shares in the firm – which floated at 180p – were selling as low as 155p during its first morning of conditional trading. Analysts queued up to take a pop at the firm, with some [...]