Market Report: Asos boss pockets £20m through share sales

 

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Could Asos boss Nick Robertson be in the market for a new wardrobe? The online fashion retailer announced, after markets closed last night, that its founder and chief executive has trousered £20m through the sale of 744,600 Asos shares. Mr Robertson, who set up the business in 2000, still controls an 8.39 per cent stake. Asos, whose shares fell 20p to 2,625p, declined to comment.

With continued uncertainty surrounding Greece, the FTSE 100 wavered about the 6,800 mark, eventually closing up 14.33 points at 6,825.94. 

The Peroni brewer SABMiller topped the index, rising 158.5p to 3,594.5p. The company is often talked about as a potential target for rival brewer AB InBev.

Wm Morrison tumbled 12.2p to 186.3p as Bernstein cruelly declared that “in its current shape, the UK does not need Morrisons”. The broker argues that the supermarket’s traditional place has been taken by discounters Aldi and Lidl.

Steel-nerved investors betting on a recovery at Afren pushed the cash-starved oil and gas explorer up in early trade. But Afren, which is desperately looking to refinance debt, slipped by 0.3p to 4.7p.

ScS, the sofa retailer that fell into administration eight years ago, enjoyed a strong return to listed life. Its shares climbed to 186p on the first day of trading, having been listed at 175p. All of the £35m raised in the float has gone to private equity owner Sun European Partners.

Gulf Marine Services jumped 8.5p to 111.5p after the company, which supplies barges and ships to the oil and gas sector, announced a four-year contract for one of its vessels in the Middle East.

Marketing company Ebiquity, which helps brands such as Dell and Unilever to monitor their campaigns, was up 1.5p at 131.5p as it announced plans for a maiden dividend.

The biomass fuel supplier Active Energy shot up by 5.47p to 9.37p after revealing that its Canadian forestry joint venture had received three bids that approach $300m (£197m).

Blur Group, whose online platform lets businesses book service contracts, rose 2.5p to 74p as it said the value of its booked projects doubled last year to $49.1m.

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