FTSE 250 movers: Ocado surges; SDCL slides again
By Frank Prenesti
Date: Wednesday 10 Dec 2025
(Sharecast News) - FTSE 250: 21,865.83 -43.29 (-0.20%)
Shares in Ocado were rising strongly in London on Wednesday after data from NielsenIQ showed that the online retailer led the pack in grocery retail growth over the past three months.
Ocado, which holds just a 1.9% share of the UK grocery market, was the fastest-growing retailer in terms of year-on-year sales growth over the 12 weeks to 29 November.
Lidl, which has a 7.8% market share, was the second-fastest growing retailer with sales 9.8% higher than last year, while Marks & Spencer (3.9% share) was third with 9.2% growth.
Heavyweights Tesco (26.4% share) and Sainsbury's (15.3% share) saw sales grow 4.5% and 5.2% respectively, while the third-largest supermarket chain, Asda, reported a 7.0% sales lump as its market share fell to 10.9% from 12.2% the year before.
Ocado's shares were up 7.1% at 208.5p by 1121 GMT. Tesco was up 1.7%, M&S was trading flat while Sainsbury's gained 0.6%.
The data came alongside NielsenIQ estimates that predicted that £20bn would be spent on Christmas groceries overall, up 2.8% on last year, with £5.7bn spent during the week to 20 December alone.
However, with food inflation still rampant, UK consumers are still prioritising affordability, with 40% of UK households planning to use saved loyalty points and vouchers this Christmas, while 23% said they would shop around for promotions to maximise savings, according to a NielsenIQ survey.
"Shoppers are looking for an affordable Christmas this year and many have been holding back their spend with unit growths across the total store down -0.8%," said Mike Watkins, head of retailer and business insight at the research firm.
"Instead, they are spending wisely and making focused savings on the weekly shop to be able to buy some treats and indulgences for the family in December."
FirstGroup advanced after saying it had been named as the preferred operator for the London Overground suburban rail network contract by Transport for London.
The contract, which was due to begin on 3 May 2026, will see its First Rail London subsidiary take responsibility for train service delivery and station management, while Transport for London will retain all revenue risk.
FirstGroup said the agreement, which has a possible two‑year extension, included plans to boost services, improve customer experience and introduce sustainability measures aimed at cutting emissions. The group will also provide a £30m performance bond and an £80m parent company guarantee.
Chief executive Graham Sutherland said: "The London Overground has greatly improved connectivity in London, with around four million passengers now using the service every week. We are delighted to have been named as the preferred operator for the service from next May and look forward to welcoming employees who will be joining the group and to play our part in the success of this vital rail network.
"We are an experienced and trusted partner in public transport and look forward to building on our relationship with TfL, for whom we already operate buses, trams and the London Cable Car. Our successful bid for this contract represents another significant step in our strategy to diversify and grow our portfolio, and we will continue to evaluate further growth opportunities like this."
Ventilation products manufacturer Volution rose as it said trading in the first four months of FY26 had been positive and announced the agreed acquisition of Australia's AC Industries for up to AUD$178.9m (£89.5m).
Kainos Group fell as investors took profits after a two day rally in response to an upgrade to 'buy' at Bank of America Merrill Lynch.
Shares in SDCL Efficiency Income Trust tumbled again after the company on Monday reported a drop in net asset value per share and said that gearing had exceeded the investment policy.
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