Black Friday Sale! Save huge on InvestingProGet up to 60% off

FTSE 100 Rallies With Ocado Leading the Charge

Published 11/10/2023, 04:12 am
© Reuters.
UK100
-
OCDO
-

The FTSE 100 Index witnessed a significant increase on Tuesday, closing at 7,628.21, marking an ascent of 1.82%. The rise was led by Ocado Group PLC (LSE:LON:OCDO) whose shares soared by 6.69%.

Ocado Group PLC, with a market cap of 6032.61M USD, has been showing promising signs of revenue growth. According to InvestingPro data, the company's revenue growth for the last twelve months (LTM2023.Q2) was 7.43%, and its quarterly revenue growth for FY2023.Q2 was even higher at 8.58%. However, it's worth noting that the company operates with a poor return on assets of -12.43% and has a declining trend in earnings per share, standing at -0.73 USD for the last twelve months.

Other notable gainers were Anglo American (JO:AGLJ) PLC (LSE:AAL) and Flutter Entertainment PLC (LSE:FLTR), whose shares rose by 5.63% and 5.17% respectively. Stocks of Antofagasta (LON:ANTO) PLC and Intermediate Capital Group PLC also experienced considerable growth, with an increase of 4.48%.

Despite the upward trend, Spirax-Sarco Engineering PLC registered the largest drop among the constituents of FTSE 100, with its shares falling by 2.01%. On the other hand, Dechra Pharmaceuticals PLC and Halma PLC reported minor share increases.

Shell (LON:RDSa) PLC (LSE:LON:SHEL) stocks also rallied on Tuesday, with an increase of 0.53%, while Smiths Group (OTC:SMGZY) PLC shares saw a modest rise of 0.83%.

In terms of currency movements, the pound (GBPUSD) rose by 0.40% against the dollar but experienced a slight decline against the euro (GBPEUR), falling by 0.08%.

In commodities, Brent crude (BRN00) fell by 0.8% to $87.42. Concurrently, the yield on the UK government's 10-year gilt (TMBMKGB-10Y) dropped to 4.433%, indicating a decrease in investor demand for this low-risk investment.

For investors who want to delve deeper into the financial metrics of companies like Ocado Group PLC, InvestingPro provides a wealth of additional tips and real-time metrics. For instance, it's worth noting that Ocado's stock price movements are quite volatile, with a 1-month price total return of -31.98% but a 1-year price total return of 28.46%. The company also operates with a moderate level of debt and its liquid assets exceed short term obligations.

For more insights like these, consider exploring the InvestingPro platform, which offers access to over 12 unique tips for each company, helping investors make more informed decisions.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.