Advertisement
UK markets open in 3 hours 51 minutes

  • NIKKEI 225

    38,329.39
    +777.23 (+2.07%)
     

  • HANG SENG

    17,126.36
    +297.43 (+1.77%)
     

  • CRUDE OIL

    83.37
    +0.01 (+0.01%)
     

  • GOLD FUTURES

    2,335.40
    -6.70 (-0.29%)
     

  • DOW

    38,503.69
    +263.71 (+0.69%)
     

  • Bitcoin GBP

    53,496.57
    -103.80 (-0.19%)
     

  • CMC Crypto 200

    1,433.79
    +19.03 (+1.34%)
     

  • NASDAQ Composite

    15,696.64
    +245.33 (+1.59%)
     

  • UK FTSE All Share

    4,378.75
    +16.15 (+0.37%)
     
Money:

What is the true cost of the UK state pension?

To get a sense of the true value of the state pension, you can look at how much you would need to save to match it yourself

Mike Ashley's Frasers raises stake in online retailer ASOS

Reuters
·1-min read
Smartphone with an ASOS app and a keyboard are seen in front of a displayed ASOS logo in this illustration picture

(Reuters) - Britain's Frasers Group raised its stake in online fashion retailer ASOS, a filing showed on Wednesday, as the Mike Ashley-owned sportswear retailer continues its drive into a more premium market.

Frasers, formerly called Sports Direct, increased its stake in ASOS to 7.4% from a prior stake of more than 5%, as of May 15.

Shares in ASOS, which have lost about 30% of its value in the past week, were trading up 9% by 1105 GMT.

The increase in stake comes a week after ASOS swung to a first-half loss, hit by a squeeze on household budgets and forecast a further drop in sales.

Frasers, known for picking up stake in fellow retailers, currently owns a 2.6% stake in German fashion house Hugo Boss, according to Refinitiv data.

Shares in Frasers were down 0.5%.

(Reporting by Radhika Anilkumar in Bengaluru; Editing by Shailesh Kuber)