Sep 19, 2017

FTSE 100 opens flat but Ocado shares slide

Shares in Ocado have fallen after the online grocer said investment in a new distribution centre would increase short-term costs. Average orders per week rose 16% to 254,000, although the average order size dipped 1.2% to £106.25. Shares in the FTSE 250-listed company fell 6% in early trade. The benchmark FTSE 100 index was little changed as trading began, edging up 6.78 points to 7,260.06. Shares in plumbing and heating supplier Ferguson, which was formerly called Wolseley, rose 1.6% after Citi raised its rating on the company to "Buy".

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