London Market Report
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(Close): Shares in online fashion retailer Asos jumped by nearly 20% after reports that the company could be a takeover target for a US company.
Asos's shares have fallen by almost two-thirds this year after it issued a profit warning and a fire hit its distribution centre in Barnsley.
On the wider market, the FTSE 100 made little progress, edging up 7.9 points, or 0.12%, to 6,878.49.
The latest survey of the sector by research firm Kantar Worldpanel found that in the 12 weeks to 17 August Tesco's market share fell to 28.8% from 30.2%, while the share for Sainsbury's slipped to 16.4% from 16.5%. Sainsbury's shares fell 2.6% while Tesco was down 1.1%.
In the FTSE 250, Foxtons fell 10% after the estate agent said it expected the number of home sales to slow in the second half of the year.
The fall came despite Foxtons reporting a big rise in half-year profits. Pre-tax profits jumped by 57% to £23m while total revenue rose by 16% to £72.8m.
But it said the introduction of the Mortgage Market Review earlier this year and the expectation of early increases in interest rates are expected to "lead to lower rates of market growth in both property sales transactions and prices during the second half of the year".