Skip to content

FTSE 100 at the close: Shell, Ocado and BT

*

By Patrick Munnelly, Market Strategist, Tickmill

The FTSE 100 initially opened higher on Friday, with the potential for its most significant weekly gains in seven weeks. However, as the trading session progressed, early gains began to fade. The blue-chip index appeared to be heading for a weekly loss of 0.81% as some investors chose to lock in profits ahead of the weekend.

Shell 3rd quarter update

Shell plc LON:SHEL managed to deliver a commendable performance in the third quarter, despite turbulent market conditions, according to CEO Wael Sawan. During a conference call in London on Thursday alongside CFO Sinead Gorman, the CEO provided an overview of the company’s performance for the quarter. While the company experienced a decrease in gas and oil production volumes compared to the previous year, it achieved strong results as the world’s leading LNG trader.


Today’s pullback in oil prices and investors’ concerns around gas and oil production volumes saw the energy giant slump to the bottom of the blue chip index shedding 4.2% on the session.

Ocado leading the way

On the positive side of the ledger, Ocado’s stock LON:OCDO has experienced remarkable growth this week, consistently topping the FTSE 100’s list of best-performing companies over multiple trading sessions.

On Friday, Ocado’s share price led the way once more, surging by 6.5%. Sainsbury’s recent earnings update likely provided a positive catalyst for Ocado’s investors.

Sainsbury’s, considered one of the leading supermarket chains, achieved sales growth by offering lower-priced groceries and implementing promotional strategies to attract shoppers. Shareholders in Ocado are likely optimistic that the company’s efforts to lure customers and boost their shopping cart sizes through competitive pricing and special offers will produce similar results.

Recent data from Kantar revealed that the joint venture between Marks & Spencer LON:MKS and Ocado witnessed a 9.6% surge in sales during the four weeks ending on October 1st, along with an increase in market share from 1.6% to 1.7%,

BT continues strong trading

BT LON:BT.A added another 5.7%, continuing its upward trajectory, building on the significant surge it experienced on Thursday following the release of its stellar half-year results.

Podcast: Everything you need to know about the FTSE 100 Index

Subscribe to our podcast on your favourite platform

Don’t miss out on our weekly podcast. You can find us on SpotifySoundcloudAmazonAppleYouTube and many other popular platforms

Share this article

Invest with these platforms

Hargreaves Lansdown

IG

Interactive Brokers

Interactive Investor

Charles Stanley

IG

Interactive Brokers

Charles Stanley

Looking for great investing ideas? Get our free newsletter.
Join our UK news channel on WhatsApp

This article does not constitute investment advice.  Do your own research or consult a professional advisor.

Learn with our free 'How to' Guides

Our latest in-depth company reports

On the podcast

Sign up for great investing stock tips

Thanks to our Site Partners

Our partners are established, regulated businesses and we are grateful for their support.

Aquis
CME Group
FP Markets
Pepperstone
Admiral Markets

TMX
WisdomTree
ARK
FxPro
CMC Markets
Back To Top