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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

Watching Ocado shares amid highest-ever Christmas sales

Ocado retail revenue rose 10.9% in the fourth quarter as the online retailer recorded its highest-ever sales for the Christmas period.

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Indices overview

Asia-Pacific indices fell overnight. Japan’s Nikkei 225 ended a rally that took it briefly above 36,000 points on Monday. European and US indices are poised to open lower.

In Australia, the Westpac-Melbourne Institute Consumer Sentiment index fell to 81 in January, from 82.1 the previous month. The index held below the neutral 100 mark since February 2022, the longest streak since the early 1990s recession.

The UK unemployment rate remained at 4.2% as expected. Average earnings including bonuses rose 6.5% in the three months to November, lower than the 6.8% expected.

Germany ZEW economic sentiment is forecast at 12.7 in January, one ZEW economic sentiment forecast at 12.7 in January, after 12.8 the previous month.

Canada consumer price index is expected to rise by 3.3% in December year-on-year (YoY) after 3.1% in November.

Equities

Ocado retail revenue rose 10.9% in the fourth quarter (Q4) as the online retailer recorded its highest-ever sales for the Christmas period.

Money transfer company Wise raised its annual profit growth forecast.

Rio Tinto reported its second highest-ever iron ore shipments in 2023. Full-year shipments rose 3% to 331.8 million metric tonnes of the steel-making ingredient last year, meeting its guidance for between 320 million and 335 million metric tonnes for the calendar year. That was in line with analyst expectations of 332 million tonnes.

In its operational report, Rio said it expects China's stimulus measures to drive a gradual recovery in 2024. It reaffirmed its fiscal 2024 iron ore shipments forecast between 323 million metric tons (Mt) and 338 Mt. Rio shares were down 1% in Australia, but performed better than BHP at1.2%, and Fortescue at 1.3%.

Goldman Sachs is due to report before the opening bell. The investment bank is forecast to report earnings of $4.50 per share, which would be down on the $5.47 posted three months ago but substantially higher than the $3.32 from the same quarter a year ago.

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

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Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

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