Ocado poised to join FTSE 100 amid quarterly reshuffle

Ocado, the online-only grocer, is on the verge of being promoted into the FTSE 100 for the first time thanks to a successful year that saw its share price treble.

Shares in Ocado rose 44% on the day its tie-up with US grocery giant Kroger was announced, adding £1.6bn to its stock market value. Other deals have been struck with grocery chains in France, Sweden and Canada to license out its market-leading online delivery technology.

This hike has led to Ocado now being worth more than retailer Marks & Spencer, which had been valued at £4.8bn prior to its full-year report that included poor results and an announcement on store closures.

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