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| Ocado shares boosted by M&S deal report | Ocado shares boosted by M&S deal report |
| (35 minutes later) | |
| Ocado shares have jumped after reports that the company could tie up with Marks and Spencer when the High Street giant launches its online food service. | Ocado shares have jumped after reports that the company could tie up with Marks and Spencer when the High Street giant launches its online food service. |
| Shares in the online grocery service - which is listed on the FTSE 250 - jumped 8.5% in early trade to 272.30p. | Shares in the online grocery service - which is listed on the FTSE 250 - jumped 8.5% in early trade to 272.30p. |
| At the weekend, the Daily Telegraph said Ocado and M&S planned to start talks in the coming weeks. | At the weekend, the Daily Telegraph said Ocado and M&S planned to start talks in the coming weeks. |
| The benchmark FTSE 100 index rose 36.55 points, or 0.5%, to 7,240.49, led by energy giant BP. | The benchmark FTSE 100 index rose 36.55 points, or 0.5%, to 7,240.49, led by energy giant BP. |
| Shares in BP rose 2.5% after it reported improved first-quarter profits from a year ago, helped by higher oil prices. | Shares in BP rose 2.5% after it reported improved first-quarter profits from a year ago, helped by higher oil prices. |
| Underlying replacement cost profit - the company's preferred measure - was $1.5bn. That was better than analysts had forecast and compared with a $532m profit a year ago. | Underlying replacement cost profit - the company's preferred measure - was $1.5bn. That was better than analysts had forecast and compared with a $532m profit a year ago. |
| Back in the FTSE 250, shares in Aberdeen Asset Management rose 2.7% after it reported a 10% rise in half-year revenues. | Back in the FTSE 250, shares in Aberdeen Asset Management rose 2.7% after it reported a 10% rise in half-year revenues. |
| The fund manager also said that its planned merger with Standard Life was "on track" and should be completed later this year. | The fund manager also said that its planned merger with Standard Life was "on track" and should be completed later this year. |
| But shares in online takeaway food ordering service JustEat fell 2.6% despite the company reporting a 46% rise in sales to £118.9m for the first three months of the year. | But shares in online takeaway food ordering service JustEat fell 2.6% despite the company reporting a 46% rise in sales to £118.9m for the first three months of the year. |
| On the currency markets, the pound dipped 0.05% against the dollar to $1.2880 and fell 0.2% against the euro to 1.1803 euros. |