ASOS; BioMerieux rally (Il Sole 24 Ore Radiocor) - Milan , 05 Sep - In European stock market dealings most sectors were lower, with utilities edging higher while technology stocks slid.

Shares in ASOS soared 19.31% after the UK fast fashion retailer announced a partial refinancing of its debt and the disposal of two brands. ASOS launched a refinancing that involves offering about 250 million pounds of convertible bonds due 2028 and the partial repurchase of the outstanding 500 million pounds of 0.75% convertible bonds due 2026 and issued by Cornwall.

It also announced an amendment and extension of its existing facilities agreement with Bantry Bay Capital to May 2027 with an option for a 12-month extension.

ASOS added that it has entered into a binding agreement with Heartland to form a joint venture which will purchase the Topshop and Topman brands. Heartland will indirectly hold a 75% stake in the joint venture for 135 million pounds.

Shares in BioMerieux jumped 3.01% after the French provider of in vitro diagnostics increased its full-year guidance. The company said that in the first half organic sales rose 9.9% to 1.902 billion euros.

Contributive operating income before non-recurring items (CEBIT) reached 306 million euros for the first half of the year, up 20% like for like. The margin improved by 155 basis points at constant exchange rates.

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(RADIOCOR) 05-09-24 13:36:25 (0319) 5 NNNN