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FTSE 100 movers: Ocado surges; Rentokil retreats
(Sharecast News) - London's FTSE 100 was up 1.2% at 7,182.29 in afternoon trade on Tuesday. Ocado rocketed after the online supermarket said it had signed a partnership between Ocado Solutions and Lotte Shopping, one of the largest business conglomerates in South Korea, to develop Lotte's online business with the Ocado Smart Platform.
Matt Britzman, equity analyst at Hargreaves Lansdown, said: "The deal looks set to bring 6 Customer Fulfilment Centres into production by 2028, though it's unlikely more than a few are live by that date.
"Nevertheless, this is welcome news for a group that's been struggling to drum up tangible deals for the Solutions businesses. More so, given the tricky underlying conditions, it's pleasing to see a large business happy to go out and commit to multiyear spend on integrating Ocado's end-to-end solutions into their business - testament to the product on offer and efficiencies it's able to deliver.
"Investors will be pleased to hear no additional capital raises are on the cards, with the capex spend having already been modelled into Ocado's plans."
Miners were also on the rise as the US dollar eased, with Anglo American, Rio Tinto, Antofagasta and Glencore among the top performers on the index.
Going the other way, pest control and business services group Rentokil fell despite posting a jump in third-quarter profit.
FTSE 100 - Risers
Ocado Group (OCDO) 656.00p 38.87% Anglo American (AAL) 2,753.00p 5.54% Prudential (PRU) 853.00p 5.20% Rio Tinto (RIO) 4,750.50p 4.71% Rolls-Royce Holdings (RR.) 81.72p 4.57% Antofagasta (ANTO) 1,227.00p 4.38% JD Sports Fashion (JD.) 101.60p 4.27% Glencore (GLEN) 520.80p 4.26% B&M European Value Retail S.A. (DI) (BME) 335.80p 4.09% Intermediate Capital Group (ICP) 1,104.00p 3.95%
FTSE 100 - Fallers
Rentokil Initial (RTO) 529.80p -2.68% Relx plc (REL) 2,324.00p -0.73% Flutter Entertainment (CDI) (FLTR) 11,510.00p -0.60% BT Group (BT.A) 129.10p -0.54% Imperial Brands (IMB) 2,118.00p -0.28% Reckitt Benckiser Group (RKT) 5,776.00p -0.07% Unilever (ULVR) 3,973.00p -0.04% Experian (EXPN) 2,774.00p 0.00% Fresnillo (FRES) 729.20p 0.03% Whitbread (WTB) 2,573.00p 0.04%
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