A very good morning to you from London, here are the business headlines so far.
FTSE 100 is up very marginally this morning, with Ocado the biggest gainer. Shares in the grocery delivery service are up 3% today following a relatively upbeat trading statement yesterday, with the retailer appearing confident that improvements to the service and to the wider economy will be a boon to its revenue growth. Interestingly, it also expects to benefit from the passing of time – the company’s recent results have appeared particularly unflattering because of its year-on-year comparisons were against with Covid-boosted mega-baskets.
Elsewhere, high street retailer Next once again beat expectations, posting a full-year profit of £870mln that it attributed to a 30% boost in in-store sales.
Across the pond, adidas asked the US Trademark Office to reject an application for a Black Lives Matter (BLM) trademark. The German sportswear giant said the design would create confusion with its own three-stripe mark.
And in small caps, Galliford Try has been given a £75mln contract to create new build-to-rent residential buildings in North London. 249 new homes for private rent across three new blocks will be built as part of the contract.
That’s all for this morning, today’s report was written by Jai Singh and presented by me, Thomas Warner.
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