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Ocado Group plc
OCDGFConsumer DefensiveOTCGB
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The UK's domestically focused FTSE 250 index headed for a second straight weekly gain on Friday, powered by a surge in technology firm Ocado's shares after its tie-up with Asda, and on reports that the U.S. and Iran were near a ceasefire extension.
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.
Ocado Group PLC (LSE:OCDO) has secured a major partnership with Asda to replace the supermarket chain's ecommerce infrastructure, deploying its Smart Platform across the retailer's entire online operation from early 2027. Asda, one of the UK's largest retailers with £21 billion in annual sales and nearly 1,100 stores, currently fulfils more than 700,000 online orders each week through a network of stores and automated facilities known as dark stores.
Online grocery technology firm Ocado Group said on Friday it has won a partnership with British supermarket group Asda to roll out its automation platform across Asda's stores and dark stores starting in 2027.
