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Ocado shares boosted by M&S deal report | Ocado shares boosted by M&S deal report |
(about 4 hours 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 - were up 5.8% by Tuesday's close. | |
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 46.11 points, or 0.64%, to 7,250.05, helped by energy giant BP. | |
Shares in BP rose 1.6% 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. |
Pharmaceuticals group Shire saw its shares climb 2.5% after it reported a 14% increase in first-quarter earnings, beating expectations. | |
Back in the FTSE 250, shares in Aberdeen Asset Management rose 4.3% 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 1.1% 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 was given a boost by a stronger-than-expected survey of the UK's manufacturing sector. | On the currency markets, the pound was given a boost by a stronger-than-expected survey of the UK's manufacturing sector. |
Activity in the UK's manufacturing sector grew at its fastest pace for three years in April, according to the latest Purchasing Managers' Index (PMI). | Activity in the UK's manufacturing sector grew at its fastest pace for three years in April, according to the latest Purchasing Managers' Index (PMI). |
The survey helped sterling to rise back above the $1.29 mark, and by the evening the pound was up 0.27% against the dollar at $1.2922. Against the euro, the pound edged up 0.21% to 1.1848 euros. |