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Ocado plunges to lowest since 2017 ahead of FTSE 100 demotion

Published 31/05/2023, 11:59
© Reuters. FILE PHOTO: An Ocado grocery delivery van is driven along a street in London, Britain, March 25, 2023. REUTERS/Toby Melville
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LONDON (Reuters) - Ocado (LON:OCDO) Group shares fell on Wednesday to their lowest level in over five years, as the British online supermarket and technology business is expected to be demoted from the UK blue-chip index.

© Reuters. FILE PHOTO: An Ocado grocery delivery van is driven along a street in London, Britain, March 25, 2023. REUTERS/Toby Melville

Ocado Group is set to be removed from the FTSE 100, and added to the FTSE 250 after markets close, according index provider FTSE Russell, which said last week Ocado had been indicatively listed for removal.

Shares in the company fell 4% to their lowest since December 2017, and are down 87% since touching a record high during the COVID-19 pandemic in 2020.

 

 

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