Asos was an incongruous feature among the small-cap gainers this week after the fashion website’s market value hit £3bn.
Aim’s biggest company jumped 19.7 per cent after it reported first-half earnings ahead of consensus expectations and said expansion into China and Russia remained on track. If it moved to the main list, based on its market valuation on Friday, Asos would enter the FTSE 100 at number 99.
Oxford BioMedica, a spinout from Oxford university, jumped 25 per cent after it announced a collaboration with Novartis. Oxford said it would supply gene-bearing material for the Swiss drugmaker’s experimental cancer immunotherapy programme in a deal worth between £2.5m and £4m over 12 months.
Burkina Faso and Guinea gold explorer Avocet Mining lost 9.4 per cent after its quarterly results showed a $44.8m loss and a fall in ore grades. The operational issues revived concerns about how Avocet would repay a loan due at the end of the year to Elliott Management, its largest shareholder.
Insulation mill Superglass dropped 65.2 per cent after launching a £12.9m, deeply discounted rescue share issue to repay debt. The new equity was priced at a 99 per cent discount to Superglass’s flotation price in 2007.
Sub-penny stock The Weather Lottery fell by 61 per cent after flagging up that it was looking to delist. The group said its lottery, five-a-side football and poker operations had all made a small profit over the period, which was then erased by Aim listing costs and legal expenses.
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