Phone operators are dominating London stock market trading this morning as investors seem to have taken well to the flotation of Virgin Mobile.
The benchmark FTSE 100 index rose 33 points or 0.7% to 4371 within the first hour of trading after Virgin Mobile Holdings made its debut this morning at 200p and immediately increased in value. Positive trading on one index has also lifted both the FTSE All-Share Index by 14 points or 0.7% to 2177.5, while the FTSE 250 index is also up 19 points or 0.3% to 6065. Richard Branson’s Virgin Mobile had been looking to raise at least 250m from the IPO but eventually raised £125m after cutting its sale price to encourage investors. Virgin Mobile is now up 6p or 3% to 206p. Rival network M...
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