From Ocado’s unscheduled trading statement on Wednesday:

- Gartmore recommends £335m (92.1p a share) offer from Henderson — statement.

He never misses a trick that Diamond Bob.

-  Julius Baer to buy ING Swiss private bank – statement.

But the day’s most prominent laggard was J Sainsbury. The UK supermarket chain reported sales figures today, and it did not disappoint. The firm said same-store sales rose 7.8% in the 13 weeks to June 13, a figure at the top end of consensus expectations and easily beating its larger rival Tesco‘s UK sales. An expansion of its value range – a departure from its premium reputation -has helped it withstand the recession and maintain market share.

European credit continued to outperform equity today in a session dominated by domestic monetary policy and results across the Atlantic. Credit investors were unimpressed by the Bank of England’s decision to cut rates by 50bp to 1.5%. Bank rate now stands at its lowest level since the central bank’s foundation 315 years ago. However, the rate cut was expected, and many had hoped for a more emphatic reduction. The Markit iTraxx Europe index was slightly tighter this morning but moved wider in tandem with the stock markets later in the day. The deterioration was moderate, however, and the indices have recovered this afternoon to trade tighter from yesterday’s close.

Sainsbury’s has just recorded its best Christmas trading period ever. The supermarket’s highlights include:

Pubs appeared to be have been forced into the toxic mix on Tuesday night as a huge line of Mitchells & Butlers was suddenly on the move. Some 90m shares in the All Bar One operator changed hands after the formal close of business in London at 130p apiece. That compares with a market price of 163p, which had already fallen 12 per cent during the day.