Ocado retail sales are up 10.6% as it gains customers
Ocado volumes grew 8.1% in Q1 YoY, driving Q1 retail revenue growth of 10.6% to £645.3 million. The average basket value was up 2.1%, while basket size was stable year-on-year.
Indices
Most indices remained in consolidation mode on Monday; in the US, equity markets recorded small losses, and the session was mixed overnight in the APAC region.
German GfK consumer confidence
In Australia, consumer sentiment fell in March. The Westpac reading dropped by 1.8% month-over-month (MoM) to 84.4. The downturn was attributed to renewed concerns about the near-term economic outlook, with fears regarding inflation and interest rate hikes only easing marginally. In Germany, GfK consumer confidence rose to -27.4 in April from -29 the previous month.
CB consumer confidence
A few indicators are awaited on the other side of the Atlantic. Durable goods orders are expected to rise by 1% in February year-over-year (YoY). The S&P/Case-Shiller home price is forecast to increase by 6.8% year-over-year (YoY) in February. CB consumer confidence is seen unchanged at 106.7 for the month of March.
Ocado
Ocado volumes grew 8.1% in Q1 year-over-year (YoY), driving Q1 retail revenue growth of 10.6% to £645.3 million. The average basket value was up 2.1%, while basket size was stable year-on-year. Flutter Entertainment posted a $1.2 billion loss after $1.68 billion impairment charges. Adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) rose by 45%. Bellway saw its revenue fall by 29% in H1 and expects to deliver around 7,500 homes in finacial year (FY), to be compared with nearly 11,000 last year.
Cocoa
Cocoa prices extended their gains on Monday. In New York, the soft commodity rose by $700 to $9,300 per tonne, making it now more expensive than a tonne of copper. This month alone, cocoa prices are up 60%. They have doubled in only eight weeks. Cocoa surging prices have become a major problem for Ghana, the world's second-largest cocoa producer. The country is now facing funding challenges. The industry regulator in the country, the Ghana Cocoa Board, also known as Cocobod, relies on foreign financing to pay farmers for their beans. But because of the plunge in production, there are now not enough beans produced to secure the funding facility.
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
React to volatility on commodity markets
Trade commodity futures, as well as 27 commodity markets with no fixed expiries.1
- Wide range of popular and niche metals, energies and softs
- Spreads from 0.3 pts on Spot Gold, 2 pts on Spot Silver and 2.8 pts on Oil
- View continuous charting, backdated for up to five years
1In the case of all DFBs, there is a fixed expiry at some point in the future.
See opportunity on a commodity?
Try a risk-free trade in your demo account, and see whether you’re onto something.
- Log in to your demo
- Try a risk-free trade
- See whether your hunch pays off
See opportunity on a commodity?
Don’t miss your chance. Upgrade to a live account to take advantage.
- Analyse and deal seamlessly on fast, intuitive charts
- Get spreads from just 0.3 points on Spot Gold
- See and react to breaking news in-platform
See opportunity on a commodity?
Don’t miss your chance. Log in to take your position.
Live prices on most popular markets
- Equities
- Indices
- Forex
- Commodities
Prices above are subject to our website terms and agreements. Prices are indicative only. All share prices are delayed by at least 15 minutes.
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
