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    OCDO   GB00B3MBS747

OCADO GROUP PLC

(OCDO)
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Ocado : FTSE 100 supported by financial, travel stocks; mid-caps at record high

08/25/2021 | 12:07pm EST
FILE PHOTO: A man looks from a building in the financial district of Canary Wharf

(Reuters) - London's FTSE 100 rose on Wednesday, lifted by gains in financial and travel-related stocks, while investors assessed risks from rising COVID-19 infections globally and easing economic growth.

The blue-chip FTSE 100 ended 0.3% higher, rising for a fourth straight session, with HSBC Holdings, Lloyd's Group, Flutter Entertainment, Standard Chartered and Ocado Group among the top performers.

The banking sector climbed 2% as it tracked gains in benchmark bond yields, which rose for a third day, while travel stocks extended gains for a fourth session.

"The travel sector continues to enjoy some strength amid hopes for the easing of restrictions with a dip in the pound also helping to lift the UK's flagship index," said Danni Hewson, financial analyst at AJ Bell in a note.

Global equity markets were lacklustre as investors shifted their focus towards the U.S. Federal Reserve's annual symposium on Friday for any hints regarding the timeline for Fed's tapering of asset purchases. [MKTS/GLOB]

The FTSE 100 has risen nearly 29% from its October 2020 lows as the economy starts to recover from pandemic-related lockdowns.

But fears that the recovery could stall as central banks begin to discuss tapering their asset purchases have weighed on the pace of growth.

Limiting Wednesday's advances were consumer goods makers including Unilever and Reckitt Benckiser, and supermarket group Sainsbury's, all down between 0.3% and 1.2%.

The domestically focussed mid-cap index ended 0.4% higher after touching a record of 24,058.93.

Waste management firm Augean surged 17.5% after it said it had agreed to a buyout offer of 341 million pounds ($468 million) from a group affiliated to London-based investment manager Ancala Partners LLP.

"This continuing global corporate raid suggests bidders still see a lot of untapped value in the UK market," Hewson said.

British subprime lender Amigo dropped 4.5% after it said its losses increased substantially in the last financial year.

In signs of steady interest for UK corporates, activist investor Cevian Capital pushed its stake in insurer Aviva above 5%, according to a stock exchange filing.

(Graphic: Banks lead FTSE 100 gains, but still underperforms the index since June -

)

(Reporting by Shashank Nayar and Amal S in Bengaluru; Editing by Subhranshu Sahu)

By Shashank Nayar and Amal S


ę Reuters 2021
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Analyst Recommendations on OCADO GROUP PLC
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Financials
Sales 2021 2 633 M 3 484 M 3 484 M
Net income 2021 -213 M -281 M -281 M
Net Debt 2021 331 M 438 M 438 M
P/E ratio 2021 -57,2x
Yield 2021 -
Capitalization 12 053 M 15 937 M 15 947 M
EV / Sales 2021 4,70x
EV / Sales 2022 4,14x
Nbr of Employees 18 618
Free-Float 64,0%
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Mean consensus HOLD
Number of Analysts 21
Last Close Price 1 626,50 GBX
Average target price 2 118,18 GBX
Spread / Average Target 30,2%
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Managers and Directors
Timothy Steiner Chief Executive Officer & Executive Director
Stephen Wayne Daintith Chief Financial Officer & Executive Director
Richard Neil Haythornthwaite Independent Non-Executive Chairman
Mark Richardson Chief Operations Officer & Executive Director
J÷rn Rausing Independent Non-Executive Director
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