Ocado shrugs off warehouse fire with aggressive numbers

Ocado has been bucking the trend in UK retail for some time, and this morning announced retail revenues were up over 9% despite a fire at its Andover warehouse that led to a write down of GBP 98 million.

Ocado has been bucking the trend in UK retail for some time, and this morning announced retail revenues were up over 9% despite a fire at its Andover warehouse that led to a write down of GBP 98 million. Beyond this however Ocado is looking to realise further revenues from its technology platform and international partnerships.

Ocado shares were up 3.76% in early trading. The FTSE 100 opened slightly down again and seems intent on giving up some of its performance in June.

Asian markets wait for further Fed news

Asian markets had a less satisfactory outing on Tuesday. The US jobs report suggesting better than expected employment growth had Asian traders awaiting further testimony from the Fed on Capitol Hill. The markets appear more convinced now that we will not see further rate hikes in the US anytime soon. Most major Asian indexes were off slightly with only the Nikkei 225 up 0.14%.

Unions put pressure on Corbyn to back Remain

In the currency markets it is still all politics for the pound, with the GBP sitting at that 1.25 level as traders wait to see what happens next. Unions have put pressure on Labour to back a future Remain vote, but there is still the staunchly hard line Brexit rhetoric coming out of the Tory leadership contest to consider. The pound slipped down to 1.2483 this morning.

Oil prices are also slightly down at around the USD 63 point for Brent crude at the moment. The worries here are that we are heading into a global slowdown that will hit demand. On top of this energy traders are still unconvinced that the US and China can pull that trade agreement out of the hat.

Disclaimer: The information on this web site is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement. The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on our analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.

Futures, Options on Futures, Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Losses can exceed your deposits. Increasing leverage increases risk. Spot Gold and Silver contracts are not subject to regulation under the U.S. Commodity Exchange Act. Contracts for Difference (CFDs) are not available for US residents. Before deciding to trade forex and commodity futures, you should carefully consider your financial objectives, level of experience and risk appetite. Any opinions, news, research, analyses, prices or other information contained herein is intended as general information about the subject matter covered and is provided with the understanding that we do not provide any investment, legal, or tax advice. You should consult with appropriate counsel or other advisors on all investment, legal, or tax matters. References to Forex.com or GAIN Capital refer to GAIN Capital Holdings Inc. and its subsidiaries. Please read Characteristics and Risks of Standardized Options.

Open an Account