Online grocery firm Ocado has come under pressure after a negative note on the business.
Despite a good performance from its partner Morrisons, up 2.6p at 187p, Ocado's shares have slumped 52.6p to 351p, a 13% decline. Market share data from Kantar Worldpanel on Wednesday showed Morrisons continuing to lose market share, but a better sales performance in the last four weeks suggested there were signs it was turning the corner.
So the main hit to the Ocado shares in early trading is a sell note from analysts at Redburn, who have cut their sales forecasts and reduced their price target from 500p to 257p.
