The discovery of a wrecked ship deep under the eastern Atlantic carrying an estimated $28 million (£13.5 million) of nonferrous metals gave some much needed life to Subsea Resources, the treasure-seeker, yesterday. Its bombed-out shares rose 0.3p to 1.175p, perhaps proving that Philip Richards, of RAB Capital, was right to build a 30 per cent stake in the struggling company.

Richard Caring, the billionaire owner of The Ivy restaurant and Annabel’s club, increased his stake in Carluccio’s, the Italian restaurant chain, to 10.3 per cent. The shares gained 4p to 184½p, also helped by the Altium Securities analyst Greg Feehely saying that the fall in the price since a positive October trading statement was not warranted.

SciSys, the IT consultant, lost ¼p to 46¾p after the sudden departure of Mark Hampson, the chief executive. The company’s shares have plunged since a May profit warning over contract delays and cost overruns. Hill Station, the ice-cream maker, fell 0.075p to 0.2p after it said that it was “monitoring its working capital and short-term financing requirements” after autumn sales had fallen below budget.

Asosshares jumped another 11½p to a high of 186½p after analysts at Daniel Stewart talked up the prospects of a bid for the online fashion retailer at a price of around 214p. Jean Roche said they were worth 188p even without a bid.

Contract wins for Geong International, the enterprise management software company, helped it to rise 5½p to 82p. Parallel Media, the sports agency that specialises in golf, was up 0.125p to 1p after it negotiated a new loan from the financier Trafalgar in return for handing it a stake in the company. Ascent Resources, the oil and gas explorer, rose 2p to 19¾p after Leni Gas & Oilshareholders approved the acquisition of its Spanish oil assets. Leni was unchanged at 7.375p.

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