Deliveroo surges as rival Delivery Hero takes 5.1% stake

Deliveroo shares surged on Monday after rival Delivery Hero took a 5.09% stake in the company.

German firm Delivery Hero now owns just under 87.4m Deliveroo shares.

At 1605 BST, Deliveroo shares were up 4.5% at 339.63p.

CMC Markets analyst Michael Hewson said: "The shares still remain below the 390p IPO price of earlier this year, however a decent update on Wednesday could be the catalyst that could enable it to complete a five-month round trip for the share price, from its April lows of 225p."