Frasers Group lifts stake in Asos

Mike Ashley’s Frasers Group upped its stake in online fashion retailer Asos on Friday.

The company - which owns Sports Direct, House of Fraser, Flannels and Jack Wills - lifted its stake to 19.8% from 19.3%, sending shares in Asos higher.

At 1125 BST, they were up 5.5% at 462.50p.

Frasers also revealed in a filing earlier in the day that it has increased its stake in fast-fashion retailer Boohoo to 10.4% from 9.1%, having already upped it from 7.8% on Thursday.

Frasers also owns stakes in AO World, Currys and Hugo Boss.