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Reuters: London stocks fall at open as financials drag; Ocado shines

Reuters
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Reuters
Published Jul 24, 2023

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British stocks fell at the open on Monday, with financials leading declines, while shares of Ocado jumped after a deal to settle all litigation claims with Norwegian firm AutoStore.

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Ocado Group jumped 9.1% after the online supermarket group and Norwegian robotics firm AutoStore reached a deal to settle patent litigation claims.

UK banks fell 1.1% after gaining over 4% last week. Prudential slipped 1.7% following Citigroup's cut in its price target.

The travel and leisure sector, which houses UK's major airline firms, lost 0.7% after industry bellwether Ryanair struck a cautious tone about travel demand for the rest of the year.

Vodafone Group rose 3.6% after the telecoms group reported an acceleration in first-quarter revenue growth and said it appointed former SAP CFO Luka Mucic as its new finance chief.

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