Nov 28, 2017

Ocado shares surge on Group Casino tie-up

Shares in Ocado jumped by more than 20% after the online grocer announced a long-awaited international partnership. The company has signed a deal with Groupe Casino that will see the French supermarket giant use Ocado's e-commerce technology in its own online business. Shares in Ocado - a member of the FTSE 250 share index - were up 22% in early morning trade at 313.2p. The FTSE 250 index was up 38.92 points at 19,920. The oil giant said it was ending its scrip dividend programme, under which payouts can be made in shares instead of cash. Shares in the airline rose 2.1% after it was upgraded to "Hold" by Societe Generale, while Kepler Cheuvreux lifted its rating on the firm to "Buy".

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