Consumers may be nervous about their finances, but spending on easy dinners at home shows no sign of slowing.
Deliveroo took 43.1m orders in the UK and Ireland in the final three months of last year, 5 per cent more than a year earlier. And the total cost of baskets plus delivery fees jumped 9 per cent to £1.2billion.
The delivery group has extended its reach to work with retailers such as B&Q, The Perfume Shop and Ann Summers. Its shares closed up 6.6 per cent, or 8.5p, at 137.9p.
Bakkavor’s UK sales grew 5.2 per cent in 2024 as prices showed signs of recovery. The supplier of ready meals to Tesco, Marks & Spencer and Sainsbury’s now expects annual profit to be at least as good as the most optimistic analyst.
Bakkavor shares, hit hard since Christmas by mounting concern about the economy, recouped a further 4.2 per cent, or 6p, to 149p.
A poor performance by the UK economy in November cemented expectations of a cut interest rates. That cooled bond yields further and supported shares.
Delivery group Deliveroo took 43.1m orders in the UK and Ireland in the final three months of last year, 5% more than a year earlier.
The FTSE 100 rose 1.09 per cent, or 90.77 points, to 8,391.9 on a day dominated by company results.
The FTSE 250 continued to rally from its worst week in more than a year, recouping another 0.95 per cent, or 194.08 points, at 20,527.70.
Among builders, Taylor Wimpey warned of growing cost pressure, while Ibstock said UK brick deliveries were set to be 30 per cent down on 2022. Taylor Wimpey fell 2.9 per cent, or 3.3p, to 111.05p and Ibstock lost 1.1 per cent, or 1.8p, to 168.6p.
But Savills, 2.6 per cent, or 26p, up at 1044p, predicted a strong commercial property market this year thanks to cheaper financing and less working from home.
Stronger quarterly copper production raised Antofagasta 2.4 per cent, or 41p, to 1738p. All eyes this morning are on economic data from China, the world’s hungriest consumer of industrial metals.
A jump in bookings in the UK and North America means Trustpilot’s sales are likely to be a fifth higher in 2024, lifting the online reviewer 16.6 per cent, or 45.5p, to 320p.
But fears of cost pressures in 2025 saw self-storage group Safestore fall 10.23 per cent, or 68p, to 596.5p.
Wealth manager Rathbones was 0.36pc, or 6p, lower at 1672p after withdrawals by savers accelerated following the Budget. Company results aside, online trading platform IG Group was up 2.25 per cent, or 23p, at 1046p after buying Freetrade, a British rival to the popular US stock trading app Robinhood, for £160million.
And Spirent Communications edged 1.2 per cent, or 2.1p, up to 176.4p after the competition watchdog said it would look into the planned £1.2billion takeover of the telecoms tester by America’s Keysight Technologies.
Index trackers were busy adjusting weightings in Britvic and Pollen Street shares in the stock exchange’s daily closing auction.
The soft drink maker (up 0.08 per cent, or 1p, at 1313p) was deleted from the FTSE 250 after its £3.3billion takeover by Calsberg, to be replaced by the investment firm (1.9 per cent, or 16p, lower at 826p).
And Rolls-Royce was up 2.73 per cent, or 15.4p, to 578.8p after the aero engine maker’s house broker Morgan Stanley gave it a push.
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