Ocado blames ‘macro economic and political headwinds’ for a drop in sales and widening losses of £500m February 28, 2023 Online grocer Ocado has reported a 3.8 per cent fall in sales, claiming its business model has been “tested” in 2022. In its results for the full year year, Ocado posted retail revenues of £2.20bn, down from £2.28bn the previous year. The firm also posted a harrowing loss before tax of £501m for 2022 up [...]
Week ahead: Bank of England speak to dominate agenda as investors look for clues on interest rate path February 26, 2023 Investors will be parsing over a string of speeches from top Bank of England rate setters this week for clues on whether the central bank is close to ending its aggressive campaign to tame inflation. Ben Broadbent, a deputy governor at the Bank, kicks off a busy week of central banker speech at Threadneedle Street’s [...]
FTSE close: Index closes the week on a muted note, as traders eye 8,000 barrier February 10, 2023 London’s blue chip index closed at 7,882.45, down 28.70 points, or 0.36 per cent as investors paused for breath at the end of a trading week which saw the FTSE 100 hit an all-time high. Optimism over the British economy, which narrowly avoided recession, appeared to be tempered with a warning from Jeremy Hunt, Chancellor [...]
FTSE 100 close: London index runs out of steam ahead of expected Fed interest rate hike February 1, 2023 London’s FTSE 100 edged higher this morning, before running out of steam later in the day ahead of the US Federal Reserve launching a big week for central banks with an expected 25 basis point interest rate hike. The capital’s premier index eventually fell 0.17 per cent to 7,758.21 points, while the domestically-focused mid-cap FTSE [...]
FTSE 100 close: Bleak IMF UK recession warning knocks pound and London index January 31, 2023 London’s FTSE 100 dipped and the pound stumbled today, both driven lower by the International Monetary Fund (IMF) warning the UK is on course to be the only major economy to contract this year. The capital’s premier index fell 0.17 per cent to 7,771.69 points, while the domestically-focused mid-cap FTSE 250 index, which is more [...]
Caffe Nero shrugs off inflation as Brits’ coffee habits drive sales of £150m January 30, 2023 Caffe Nero generated UK sales of £150m for the first half of the financial year, averaging 104 per cent of pre-pandemic levels and an increase of 17 per cent for the same period in 2021. The coffee chain added Deliveroo and Just Eat to its delivery partner service last year, which it said helped secure [...]
FTSE 100 close: Barclays, HSBC and Easyjet shine on otherwise poor day in London January 25, 2023 London’s FTSE 100 today gave up morning gains to finish lower before stronger-than-expected retail earnings provided a balm against recession fears. The capital’s premier index fell 0.22 per cent to 7,740.34 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, slid 0.38 per cent to [...]
FTSE 100 close: London index shakes off poor week as Ocado shines again January 23, 2023 London’s premier FTSE 100 index kicked off a fresh week in positive style today after registering its first five day loss of 2023 last week. The capital’s top index jumped 0.18 per cent to 7,784.68 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, rose [...]
FTSE 100 close: Ocado emerges as top dog in 2023 so far, but index pulls away from record high January 18, 2023 London’s FTSE 100 finished slightly lower today, dragging it further away from its record and signalling traders are looking through signs UK inflation has passed its peak and could be a downward trend this year. The capital’s premier index dropped 0.27 per cent lower to 7,830.71 points, while the domestically-focused mid-cap FTSE 250 index, which [...]
FTSE 100 close: Ocado drags London index away from record high January 17, 2023 London’s FTSE 100 edged away from its record high today, driven lower by traders ditching middle-class favourite and online supermarket Ocado after it said income has tanked. The capital’s premier index closed 0.12 per cent lower at 7,851.02 points, while the domestically-focused and mid-cap FTSE 250 index, which is more aligned with the health of [...]