Ocado surges on Asda deal as broker flags UK market breakthrough

Ocado Group PLC (LSE:OCDO) shares jumped 13% to 235p after announcing a partnership with Asda to overhaul the supermarket chain's ecommerce infrastructure, marking the first significant UK client win in years for the technology provider. Broker Peel Hunt said the deal "ticks a lot of boxes" for investors concerned about Ocado's ability to secure new contracts after a prolonged period of negative sentiment.