London’s FTSE 100 was flat in early trade after a mixed bag of updates from some of the UK’s big names.
The blue-chip index edged three points lower to 8,220 as the bullish statements largely offset the more cautious comments.
Ocado was the stand-out, rocketing 12% as it reported its best Christmas ever. Revenues rose by 17% in its fourth quarter as its delivery joint venture with M&S raced ahead. For the year overall, revenues rose 14%.
In contrast, JD Sports issued a warning about lower revenues and profits though it too saw good sales over Christmas.
Housebuilder Persimmon was a riser after it surprisingly forecast profits this year would be at the top end of expectations with completions also better than expected. Shares were up 5% in early trades.
Finally, oil titan BP cautioned that its oil and gas production had dropped compared to the previous three months, which …