MoPh Markets

Boohoo Strategic Investment, Cineworld Reports Lower Admissions, Asos Plummets 6.35%: Morning Roundup

Dive into the top stories from London Listed Stocks on Wednesday…

Boohoo

  • Boohoo has made a strategic investment into Revolution Beauty.
  • The interest amounts to 7.1% of Revolution Beauty’s share capital.
  • The investment builds upon the existing relationship between boohoo and Revolution Beauty, under which Revolution Beauty products are sold through Boohoo’s website.

Cineworld

  • Cineworld has provided an update on its current trading, liquidity, and capital position.
  • Despite a gradual recovery in demand, the company reported recent admission levels have been below expectations.
  • Recent lower levels of admission are due to a limited film slate, which is expected to continue until November 2022.
  • Cineworld plummeted 38.49%.

Asos

  • The board of Asos and Mat Dunn, Chief Operating Officer and Chief Financial Officer, have agreed a phased plan under which Mat will step down from his roles.
  • Mat will continue his role until at least 31 October.
  • Asos shares are down 6.35%.

Plus500

  • Group revenue for the six months ended 30 June was up 48% to $511.4 million, compared to its prior year.
  • EBITDA increased 63% to $305.3 million.
  • Furthermore, the company announced a $60.2 million new share buyback program.

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