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Today's Markets: Ocado pops, German factory gate inflation soars, Ryanair takes flight from London

Stocks flattish with Ocado rising after Marks & Spencer buyout speculation, and German inflation soars
Today's Markets: Ocado pops, German factory gate inflation soars, Ryanair takes flight from London
  • Ocado up 6 per cent amid M&S buyout speculation
  • EV stocks Rivian and Lucid tumble
  • Ryanair to take flight from London

Markets

European stock markets rallied first thing Friday morning before losing momentum. Overnight there was a solid bounce on Wall Street that saw the S&P 500 and Nasdaq close at fresh record highs. Big tech drove the steers with strong hand, with Apple (AAPL) up +2 per cent and now +6 per cent for the week; whilst energy and financials were lower. Losses for Cisco (CSCO) weighed on the Dow, which closed in the red. This morning, miners led the way higher on the FTSE 100, whilst Ocado (OCDO) caught the eye with a 6 per cent pop, apparently on speculation Marks & Spencer (MKS) could be saving its pennies to buy out Ocado’s UK retail arm, of which it is a 50 per cent shareholder. Could happen, seems like a natural evolution to ultimately split the two businesses once the international deals actually start delivering some free cash.

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