Ocado confirmed that it had signed its long-awaited first deal to distribute groceries for a European retailer and investors shrugged off the lack of detail about the deal to send the shares sharply higher in early trading. Shares in Ocado gained almost 7 per cent, up 21p at 337½p in the first minutes of trading today after the online grocery delivery business said it would be supplying a full set of services to the business but told investors that its partner wanted to remain anonymous. Ocado first promised to sign a licensing deal with a third-party international retailer by the end of 2015 but failed to deliver. Now, 18 months late, the online grocery company said it would only disclose the name of the retailer…

Source: The Times June 05, 2017 07:52 UTC