Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guides
Guidance and tools
Shares
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks Stock plan guidance
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
FTSE 100 movers: Ocado slumps on results; Abrdn gains
(Sharecast News) - London's FTSE 100 was down 0.6% at 7,885.97 in afternoon trade on Tuesday. Online grocer and technology company Ocado was the worst performer on the index after it posted wider losses as the cost-of-living crisis and return to normal shopping habits after the Covid pandemic hammered its joint venture with Marks & Spencer.
The group posted a pre-tax loss of £501m for the year to 27 November 2022, compared with a loss of £179m a year earlier and worse than analyst forecasts of a £399m loss. Core losses were £74m compared with a profit of £61m a year earlier. Retail losses were £4m, down from a £150m profit in 2021.
Ocado retail revenue declined by 3.8% to £2.2bn in what the firm called a "challenging market" as the benefits of the trend towards online shopping sparked by Covid pandemic lockdowns wound down and customers bought fewer items "exacerbated by the cost-of-living crisis".
Croda also fell as it posted a rise in full-year sales and profit but said 2023 was set to be more weighted to the second half than the prior year.
Russ Mould, investment director at AJ Bell, said: "Investors hate hearing that phrase as it raises the chances of a profit warning if that six-month period doesn't live up to expectations."
Product testing and certification company Intertek was also in the red after full-year results.
On the upside, asset manager Abrdn gained despite saying it swung to a full-year loss, citing volatile markets and surging investments in what the company called "one of the hardest investing years in living memory".
St James's Place advanced after well-received results.
FTSE 100 - Risers
Abrdn (ABDN) 222.60p 4.31% Kingfisher (KGF) 286.40p 3.66% St James's Place (STJ) 1,274.50p 3.03% M&G (MNG) 214.10p 2.98% Associated British Foods (ABF) 2,015.00p 2.05% NATWEST GROUP (NWG) 294.00p 2.05% Lloyds Banking Group (LLOY) 52.72p 1.80% Centrica (CNA) 106.00p 1.63% CRH (CDI) (CRH) 3,954.50p 1.27% Standard Chartered (STAN) 797.20p 1.22%
FTSE 100 - Fallers
Ocado Group (OCDO) 571.20p -8.58% Croda International (CRDA) 6,616.00p -4.50% Intertek Group (ITRK) 4,202.00p -3.93% Bunzl (BNZL) 2,980.00p -3.50% Spirax-Sarco Engineering (SPX) 11,675.00p -2.34% Smith & Nephew (SN.) 1,176.50p -2.24% RS Group (RS1) 981.50p -2.14% Experian (EXPN) 2,796.00p -2.07% United Utilities Group (UU.) 1,015.00p -1.84% Rentokil Initial (RTO) 510.00p -1.81%
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity, Equity & Inclusion | Diversity, Equity & Inclusion Reports | Doing Business with Fidelity | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Staying secure | Statutory and Regulatory disclosures | Whistleblowing programme
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document or Product Summary document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.
