Watching Ocado shares amid highest-ever Christmas sales
Ocado retail revenue rose 10.9% in the fourth quarter as the online retailer recorded its highest-ever sales for the Christmas period.
Indices overview
Asia-Pacific indices fell overnight. Japan’s Nikkei 225 ended a rally that took it briefly above 36,000 points on Monday. European and US indices are poised to open lower.
In Australia, the Westpac-Melbourne Institute Consumer Sentiment index fell to 81 in January, from 82.1 the previous month. The index held below the neutral 100 mark since February 2022, the longest streak since the early 1990s recession.
The UK unemployment rate remained at 4.2% as expected. Average earnings including bonuses rose 6.5% in the three months to November, lower than the 6.8% expected.
Germany ZEW economic sentiment is forecast at 12.7 in January, one ZEW economic sentiment forecast at 12.7 in January, after 12.8 the previous month.
Canada consumer price index is expected to rise by 3.3% in December year-on-year (YoY) after 3.1% in November.
Equities
Ocado retail revenue rose 10.9% in the fourth quarter (Q4) as the online retailer recorded its highest-ever sales for the Christmas period.
Money transfer company Wise raised its annual profit growth forecast.
Rio Tinto reported its second highest-ever iron ore shipments in 2023. Full-year shipments rose 3% to 331.8 million metric tonnes of the steel-making ingredient last year, meeting its guidance for between 320 million and 335 million metric tonnes for the calendar year. That was in line with analyst expectations of 332 million tonnes.
In its operational report, Rio said it expects China's stimulus measures to drive a gradual recovery in 2024. It reaffirmed its fiscal 2024 iron ore shipments forecast between 323 million metric tons (Mt) and 338 Mt. Rio shares were down 1% in Australia, but performed better than BHP at1.2%, and Fortescue at 1.3%.
Goldman Sachs is due to report before the opening bell. The investment bank is forecast to report earnings of $4.50 per share, which would be down on the $5.47 posted three months ago but substantially higher than the $3.32 from the same quarter a year ago.
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