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Market report: FTSE gains as ASOS surge and Just Eat Takeaway.com soar

FTSE 100 opened higher after investors shrugged off the three-tier lockdown system introduced by the UK government while we wait for more news on a potential Brexit deal. London’s leading index added 28 points to 5,993 in early trading.

ASOS PLC (LON:ASC) saw profits growing four-fold helped by higher sales and unusually low returns during lockdown. The online fashion retailer expects to keep growing profits and remain cash flow positive.

Just Eat Takeaway.com NV (LON:JET) posted a 46% jump in quarterly order growth thanks to new partnerships with McDonald’s and Greggs. The food delivery service is on track to become a new giant when the Grubhub acquisition completes next year.

Apple Inc (NASDAQ:AAPL) has launched the next generation of iPhone 12 which support faster 5G internet. The four new models are priced between US$699 and US$1,399 based on their screen size.

Among the small caps, Touchstone Exploration (LON:TXP, TSE:TXP) announced a significant gas discovery at the Chinook-1 exploration well in Trinidad. Chinook-1 encountered some 589 feet of net gas pay across three sections in the Herrara sands.

Angling Direct  (LON:ANG) reported a profit surge in its first half. The fishing tackle retailer made £1.4mln, up from £0.4mln in the prior year, while revenues jumped 21%.

Kromek Group  (LON:KMK) has started development of a new system to improve pathological medical imaging techniques used during cancer surgery.  The three-year project, which has received a grant from Innovate UK, is being conducted in partnership with medical imaging firm Adaptix and the University of Manchester.

Quick facts: ASOS PLC

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AIM:ASC

Price: 3177 GBX

Market Cap: £3.17 billion

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