Shares in Ocado were down on the FTSE 250 after the John Lewis Partnership Pensions Trust sold its 10 per cent stake in the company.

Ocado said that the sale did not affect its commercial arrangements with Waitrose, which is owned by the John Lewis Partnership. Last year Ocado and Waitrose signed a 10 year supply deal.

The sale is part of John Lewis Partnership Pensions Trust's investment management activities.

By 08:45 shares in Ocado were down 14.38 per cent on the FTSE 250 to 244.00 pence per share.