Results: ASC

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If you are into corporate updates it is an interesting day today and loads to write about. Here is the exciting news: it is going to be like this for over the next couple of months. It has always been thus over the last twenty-five plus years I have been looking at the U.K. markets. I guess I should start with ASOS (ASC), which may have formally talked about a four month trading update to the end of December, but a second headline it gave, observing that the company ‘announces intended move to London Stock Exchange’s main market’, is kind of interesting too.

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A week into January and I see that the weekend press has plenty of stories about the European Central Bank executive who ‘warns green energy push will drive inflation higher’, as well as the UK's former vaccines minister who said it would be ‘helpful’ to cut the self-isolation period to five days.  Otherwise there is the apparent hassle of the wealth of the top 1% is 230 times higher than the poorest 10%.  Such analytical excitement (not).  

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Late last month I observed that boohoo (BOO) was uninteresting to me, but I was going to have a look at shares in ASOS (ASC) which was due to give a big update this Thursday...but it has come out early. I bet you cannot guess why!

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Hello, Share Bashers. This old punter has an illogical leaning towards picking companies with eye-catching names. For example, I once bought more shares than I ought in a firm called Sleepy Kids. Older readers will remember it was a studio which made very imaginative cartoons. Budgie the Helicopter was one popular title.

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It is going to be a busy next week in the markets.  I look forward to that but first a couple of bits of Sunday musing. Five weeks ago here I was thinking about Prudential (PRU) ‘which might have been founded in London in May 1848, but today (post the spin-off of M&G (MNG)) is all about its US and Asian insurance and related business focus’.  Well, as you might have read in the last week, the company’s US division Jackson Financial has formally split and the company is an independent organisation listed on the New York Stock Exchange and technically ‘Prudential shareholders are entitled to receive one share of Jackson’s Class A common stock for every 40 Prudential shares they hold’.

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Back on the 1st February I observed about the online clothing retailer Asos (ASC) that ‘I am still a seller on this name and take the view that below £40 is a level where you can start looking at this one again’. Guess where the share price is today after a sharp fall following the publication of four months to 30 June numbers? Hello near 40 quid a share. So what is going on?

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