Retailer Asos shares rise

Online Fashion retailer Asos reported an 87% drop in first-half pretax profit, hurt by poor trading in the run-up to Christmas and logistical hiccups in the US market. Yet the company, whose affordable on-trend garments have made it a hit with young buyers stuck to its guidance for sales, profit margins and capital expenditure for the full year.

Shares in the company were boosted by the reassurance and rose 7.5% though still well below their level before a shock profit warning in mid-December.