FTSE Down, Ocado share price faces gloom in 2021 after Q3 hiatus

Ocado share price faces sluggish 2021 after third quarter hiatus

Online grocer Ocado’s share price is expected to continue to struggle after a third quarter marked by higher costs and a fire disrupting its operations, according to CMC Markets. Ocado is among the 10 worst performing FTSE 100 stocks this year so far, according to the investment platform. Third-quarter retail sales fell 10.6%, retreating from pandemic highs and impacted by the Erith distribution center fire, while higher wages will add $ 5million additional pounds sterling to Ocado’s cost base, according to CMC Markets. “Any further progress in terms of stock price gains could well be hard earned,” CMC Markets said. The shares are trading down 3.1% to 1,828.50 pence.

Companies News: 

Groupe Tandem 1 hour profit, increased turnover

Tandem Group PLC said on Tuesday that its profits and revenue increased in the first half of 2021.

Springfield Properties FY 2021 Profit before tax Rose

Springfield Properties PLC said on Tuesday that fiscal 2021 profit and pre-tax revenue has increased and that it enters fiscal 2022 with good visibility into full-year revenue as it delivers relative to a large order book.

Accesso Technology Says 2021 Revenue Will Reach Pre-pandemic Levels

Accesso Technology Group PLC said on Tuesday it expects 2021 revenues to be at least at pre-pandemic levels and improved profitability.

Colefax Group takeover bid: shares valued at £ 6.7m purchased

Colefax Group PLC said on Tuesday it had bought shares valued at 6.7 million pounds ($ 9.3 million) through its takeover bid.

Sanne Group 1H profit fell as revenue recovered

Sanne Group PLC said on Tuesday that profits fell and revenues rose in the first half of the year, as customer activity picked up after the Covid-19 hit.

Peel Hunt to continue listing on AIM Marketplace

Peel Hunt Ltd. on Tuesday announced its intention to apply for admission of its ordinary shares to trading on the AIM market of the London Stock Exchange.

EKF Diagnostics raises its expectations in 2021 on solid trading in the first half of the year

EKF Diagnostics Holdings PLC said on Tuesday that its profits and revenue increased in the first half of 2021 and that it expected annual results above its previous expectations.

TP Group 1H Extended loss before tax

TP Group PLC said on Tuesday that its pre-tax loss widened in the first half of the year after recording higher costs.

Bonhill Group Confirms Narrower H1 Pre-Tax Loss and Lower Revenues

Bonhill Group PLC said on Tuesday that its pre-tax loss had narrowed in the first half, although revenue fell due to the lack of live events as previously reported.

Fiske Swung to FY2021 Pre-Tax Profit, Shares Rise

Shares of Fiske PLC rose on Tuesday after the company said it moved to pre-tax profit for fiscal 2021 as revenues increased and had a good start to fiscal 2022.

Staffline shares fall after cautious outlook despite reduced 1H loss

Staffline Group PLC shares fell on Tuesday despite a reduced pre-tax loss in the first half of the year, after saying it remained aware of economic uncertainty from the pandemic and potential labor shortages.

BP Taps specialist in renewable energy in the push for green energy

BP PLC has hired the former chief executive of one of the world’s largest wind power developers to manage its gas and low-carbon operations as the oil giant seeks to support its push into renewables .

Appointment of VP raises BP’s environmental and gender diversity profile – ESG Insight

Commentary by Gonçalo Lousada, Research Analyst, ESG and Impact Investing

Kape Technologies shares rise with $ 354 million placement to acquire ExpressVPN

Shares of Kape Technologies PLC rose on Tuesday after it said it raised $ 354 million in a stock offering and $ 2.5 million through its retail offering on the PrimaryBid platform, to fund the acquisition of ExpressVPN.

Geiger Counter issues 1.2 million new common shares to meet market demand

Geiger Counter Ltd. announced on Tuesday that it had allocated the issuance of 1.2 million new ordinary shares to meet market demand, subject to the admission becoming effective.

Market Talk: 

JD Sports’ American bet pays off

10:58 GMT – The integration of JD Sports’ acquisitions in North America is showing positive early signs, and the fashion company looks set to gain significantly more in the US this year than in its main market in the UK, a said David Kimberley, analyst at Freetrade. “The United States is a graveyard of British companies that have tried unsuccessfully to expand there, whether Tesco or Arcadia,” he notes. However, the company’s performance in the United States suggests that its strategy of retaining the acquired company’s brands and opening JD stores is paying off, Kimberley said. JD shares climbed 8.3% after releasing first-half results and raising its guidance for 2021.

Dissolving a business at SSE could unlock additional value

10:38 a.m. GMT – There is valuation potential for SSE, as a disruption could generate additional value through greater visibility of two attractive businesses – renewables and grids – or through asset disposals and acquisitions, RBC Capital Markets said, after reporting that a shareholder pushing for the dissolution of energy company FTSE 100. Bank analysts estimate a break-out value of over 2,000 pence per share from the current price of 1 638 pence. “SSE and Elliot have not commented on the latest news article and we believe it may be some time before anything potentially materializes from the situation,” RBC said.

Ocado robot fire damaged more than sales

0958 GMT – The Ocado online grocer’s latest warehouse accident involving robots has cost him millions at a time when he also faces huge additional costs from human labor, especially delivery drivers, has Russ Mold said at AJ Bell. The company’s business model depends on registering more grocers to use its logistics platform, and suffering two robot fires is damaging more than a quarter of sales, as potential customers might reflect. twice before signing up with the company given the considerable disruption a small accident can cause, Mold says. “The share price has taken a big hit this year because it took a long time to recruit new grocery partners for its systems, and the second robot fire took a toll on its credibility,” Mold said. .

Sterling could rise if labor market remains strong

0946 GMT – The pound sterling and some interest-sensitive UK stocks could rise if the unemployment rate continues to fall after the leave scheme ends, said Emma Mogford, fund manager at Premier Miton Monthly Income Fund. If the unemployment rate continues to fall after the end of a government-backed employee retention program on September 30, “it should give sterling and interest rate sensitive stocks a boost”, she declared. Official data from the Office for National Statistics showed the number of employees had returned to pre-Covid levels by August. Higher consumer prices and a robust labor market could potentially prompt the Bank of England to tighten monetary policy sooner than expected. The British pound is last up 0.2% to $ 1.3860.

Bunzl’s latest acquisitions should generate PSE benefits

0931 GMT – Distribution and outsourcing group Bunzl has acquired two companies with a combined revenue of £ 77million and, given the targets’ EBITDA profile, they are expected to generate an increase in EPS to a figure, according to analysts at Jefferies. One of the companies, McCue, is fast growing and high margin and subsequently drew a higher than usual multiple, but is expected to create value creation in three years, and the deal opens a new attractive market, according to the US bank. The company’s expenses to date stand at £ 390million, up from £ 134million at the interim, implying that the company has spent £ 256million on these two deals, most of it likely going to McCue, according to the bank. Jefferies evaluates the purchase of shares with a target price of 3,000 pence.

The UK labor market was strong in the summer; Challenges ahead in Q4

0802 GMT – Job creation remained strong over the summer in the UK, according to Pantheon Macroeconomics. The number of employed people was 183,000 higher in the three months to July than in the previous three months, according to the Labor Force Survey. “The strength of employment indicators from the Markit Purchasing Managers Index survey and the KPMG / REC employment report in August suggest that job growth will remain strong through the third quarter, “said Samuel Tombs, UK chief economist at Pantheon Macroeconomics. Further job growth will likely push the unemployment rate even further to its pre-Covid low of 3.8%, he says. However, winding up the leave program will likely lead to an increase in unemployment and underemployment in the fourth quarter, according to Tombs.


Contact: London NewsPlus, Dow Jones Newswires; Write to Sarka Halas at [email protected]

(END) Dow Jones Newswires

September 14, 2021 08:59 ET (12:59 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

About John McTaggart

John McTaggart

Check Also

Cathie Wood goes shopping: 3 falling stocks she keeps buying

What do the most successful investors do when their favorite stocks pile up? If you …

Leave a Reply

Your email address will not be published. Required fields are marked *