MARKET REPORT:Shares at Ocado soar by 7.3 per cent amid reports it's about to make a deal with Swedish retailer

 Online grocer Ocado soared to the top of the FTSE 250 amid rumours it had finally inked a deal with a major foreign retailer.Shares jumped 7.3 per cent or 17.5p to 256.2p off the back of reports it is about to strike a deal with Swedish retailer ICA Gruppen.The speculation was welcomed by starved investors, who have been pushing for the grocer to sell its warehouse technology to a major overseas player as it fights off increased competition from Amazon Fresh.

 Shares in the grocer have also fallen almost 20 per cent in the past four weeks after market research from research firm Kantar showed weaker online grocery adoption and slower Ocado growth.According to Swedish reports Ocado’s deal with ICA is ‘imminent’ and likely to be revealed at the beginning of next year.A deal would be a turning point for Ocado, which has faced backlash from shareholders over its failure to secure a substantial expansion deal abroad.In June Ocado revealed it had signed a mystery regional European retailer to use its software but not its automated warehouse technology.