Ocado, Carpetright and fastjet

“The FTSE 100 opened on the front foot and crossed back over the psychologically important 6000 barrier ahead of today's meeting of EU leaders to discuss the Brexit referendum and despite the UK losing its 'AAA' credit rating after the vote,” says AJ Bell Investment Director Russ Mould.

Online supermarket Ocado continues to prosper with the group gaining market share on the seemingly inexorable rise of the armchair shopper. Ocado is benefiting from its tie-up with Morrisons and pre-tax profits are increasing, albeit at a slower rate, despite price deflation.

Carpetright’s shares were down in early trading with challenging conditions at the start of its new financial year being complicated by the EU referendum result. Customer reaction to the initiatives trialled in the group’s four concept stores has been very positive but Carpetright is concerned about the impact of the Leave vote and the associated uncertainty it will have on consumer confidence.

Low-cost African airline fastjet’s shares slumped with passenger numbers remaining lower than expected. Domestic routes within Tanzania are showing signs of recovery but international services remain difficult and load factors have fallen to 47% from 70% a year ago.”

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