FTSE 250 movers: Ocado continues to slump

The FTSE 250 stayed in the red on Monday, down 43.10 points (0.26%) to 16,689.56 by mid-afternoon.

Ocado Group led the fallers again on Monday, despite Barclays reiterating its ‘equal weight’ rating last week. It followed the company slumping at the start of the year and late last year on news that Amazon plans to expand its 'Pantry' grocery delivery service in the UK.

The online retailer launched its Pantry service in Britain in November, offering customers a range of around 4,000 grocery and household products excluding fresh food. However, the group’s UK boss, Christopher North, said it now plans to add thousands of extra products in coming months, which, if successful, could lead to the expansion of the Amazon Fresh service into the UK. So far, it had only been launched in certain cities in the US. Similarly, food production company Greencore Group also suffered, with shares down over 4%.

Laird surged to the top of the risers after The Sunday Telegraph reported that US electronics group Amphenol is considering the company as a possible target. Sources told the paper that the company would fetch at least £1.2bn for the iPhone parts maker. It said Amphenol was attracted to the company because of its discount price compared to other rivals. The Sunday Telegraph said the deal is at an early stage and that it could face competition from Eaton Corporation, which was rumoured last year to be looking at a bid.

Home Retail Group also rose after renewed reports Sainsbury’s could make another bid for the company as early as this week according to the Financial Mail on Sunday, and may value the company at over £1.2bn. It’s expected that Sainsbury’s chief executive Mike Coupe will unveil his plans later this week with the company’s Christmas trading statement.

FTSE 250 - Risers

Laird (LRD) 363.50p 10.49%
Home Retail Group (HOME) 148.40p 7.61%
Jimmy Choo (CHOO) 124.10p 5.98%
Ophir Energy (OPHR) 88.00p 4.70%
Savills (SVS) 880.00p 4.14%
Rathbone Brothers (RAT) 2,367.00p 3.14%
Countrywide (CWD) 389.50p 2.55%
Computacenter (CCC) 881.00p 2.44%
Ibstock (IBST) 222.20p 2.35%
Grainger (GRI) 238.10p 1.93%

FTSE 250 - Fallers

Card Factory (CARD) 330.70p -5.51%
Ocado Group (OCDO) 279.10p -5.39%
Cable & Wireless Communications (CWC) 70.40p -4.99%
Greencore Group (GNC) 340.40p -3.87%
Ted Baker (TED) 2,770.00p -3.48%
Amec Foster Wheeler (AMFW) 369.50p -3.45%
Serco Group (SRP) 84.55p -3.21%
Dignity (DTY) 2,433.00p -3.18%
Hays (HAS) 132.50p -2.93%
Big Yellow Group (BYG) 782.50p -2.92%