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Three things you need to know in the financial markets this morning from investment writer, Tony Cross.

Synairgen

Small cap respiratory drug developer Synairgen [LON:SNG] has been in favour of late as its treatments are seen as having the potential to help solve part of the COVID puzzle. More good news this morning with word that the company has been accepted onto a phase II/III trial for US COIVD outpatients who don’t yet require hospitalisation. The note adds that medical trials on hospitalised patients also continue, although treatments administered at-home can obviously be done earlier in the course of the illness, hopefully preventing progression of the virus.

Boohoo Group

Over to the world of fast fashion and Boohoo Group [LON:BOO] has this morning confirmed the acquisition of select assets from Debenhams. The online retailer has no intention to suddenly move onto the high street however, as the deal – worth £55m – is only for customer data, select contracts and IP including the Maine and Mantaray brands. The deal will be financed through Boohoo’s existing cash balance. In the 12 months to 31st August, Debenhams online platform generated £400m of revenue.


ASOS

Sticking with the fashion sector, ASOS [LON:ASC] has published a note this morning too, confirming media speculation that it is in exclusive discussions with the administrators of Arcadia. That would be for the acquisition of brands like TopShop and Miss Selfridge and the board add that these channels would resonate well with its customer base. There can be no certainty the transaction will complete however and shareholders will remain updated.

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Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

Tony Cross

Tony Cross

Tony Cross is a market commentator with over 15 years of experience, producing compelling, insightful copy for journalists and investors alike. Focusing on macroeconomics, UK blue chip equities and inter market analysis, Cross's commentary is well regarded for its clarity and ability to cut through the waffle. He has been quoted in publications as diverse as The Financial Times, The Times, The Guardian and The Sun. He has also been a regular guest on both Share Radio and TipTV.

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