ASOS back in fashion

Tuesday’s closedown of the Tokyo stock exchange had little effect on the UK markets, with the FTSE 100 finishing the week down just 21.4 points at 5,679.4. The oil-rich AIM Index benefited from a surge in the crude oil price to $67 a barrel, advancing 18.2 points to 1,114.1.

Online fashion retailer ASOS (ASC), which had to suspend its website after the massive fire at the Buncefield fuel depot damaged its warehouse five weeks ago, brushed itself off and grafted a 17 per cent gain to 85.25p on the site’s reopening. The company reassured that profits for the full year are still likely to be in line with market expectations, with insurance covering loss of profits and damage to assets.

Card vending machine group Scott Tod (SCD) has fought off a bid by its founding family to oust chairman David Massie and reinstate Nick Tod, who was ousted as chief executive last year after £4 million annual losses. The company’s shares, which once hit 75p, rose 4p to 14p after the Tods' proposals were rejected.

Bartercard bounces

Business-to-business exchange Bartercard (BRTR) posted a 37 per cent gain to 18.5p by Friday on confirmation it had signed a deal with four major Australian banks. The contract means Bartercard’s customers Down Under can use the electronic fund transfer system to make transactions.

Bombed-out Global Marine Energy (GME), formerly MOS International until painful restructuring last year, clinched a $3.2 million order in China. The order, for five marine deck cranes together with training and commissioning of the equipment, helped winch the shares up 17.5 per cent to 23.5p.

Wooden flooring retailer Floors 2 Go (FGO) saw its shares climb 21 per cent to 31.5p after recruiting as chairman retail guru Alan Smith, currently at hardware store Robert Dyas and previously boss of listed pub chain Punch Taverns and such high street stars as Somerfield, Superdrug and B&Q.

Muffin kickstarts Maverick

Confident of returning to profit in the full year, minuscule Maverick Entertainment (MVE) shot up 76 per cent to 0.48p on a jovial trading update. The owner of intellectual property rights for children’s television and films pronounced as a success its Muffin the Mule series on the BBC and added it had signed two new contracts for popular characters from yesteryear: ‘Bleep and Booster’ and ‘Bengo the Boxer Pup’.

Computer game developer and publisher Empire Interactive (EMP) signed an agreement with industry giant Capcom Europe for the publishing rights in the UK and Europe to three of its classic titles – Dino Crisis 2, Chaos Legion and Resident Evil 3 – to be released in the first quarter of 2006. The shares buzzed up 19 per cent to 6.25p on the day.

Technical difficulties

JumpIT (JUM), a developer of batteries for mobile phones, iPods and other handheld devices, lost 37 per cent to 12.5p as it confessed that its expectations for the financial year to December ‘have not materialised at the rate previously anticipated’.

Mobile phone technology developer i-mate (IMTE) warned sales had been by ‘affected’ issues resulting from the death of the Emir of Dubai and an unexpected manufacturing delay. The shares fizzled down 19 per cent to 248.5p.
    
Finally Datong Electronics (DTE) admitted it will not meet forecasts after a contract from a UK Government department was delayed, sending its shares down 29 per cent to 108.5p.