Investors snap up Ocado after deal news

The price of shares in FTSE 100 grocery delivery firm Ocado (LON:OCDO) has risen by 10.84% to 1,339p (as of 14:10 GMT) after it announced a partnership with Aeon for providing its services in the Japanese market. Ocado will be paid upfront fees during the development process and payments based on sales and capacity once the system is operational.

CEO Tim Steiner commented: “I am delighted to welcome another extraordinary retailer, and the first from Asia, to the unique international club of grocers powering their ecommerce operations with Ocado. This partnership marks a major milestone for the food retail landscape in Japan, and I am excited that Ocado will play a key role in bringing ever greater levels of convenience and choice to Aeon’s customers“.