Partnership shares soar on opening

<p>Shares in Partnership rose by 17 per cent today.</p>

The share price of Partnership rocketed today (June 7th) as the company joined the London Stock Exchange.

Stocks opened the day at 385.00 but soon shot up and rose by as much as 17 per cent over the course of the trading session.

The insurer is now valued at close to £2 billion as a result of its popularity on the London Stock Exchange today, which may see it join the FTSE 250 in the coming weeks.

Partnership boss Steve Groves said: "I now look forward to executing the next phase of our strategy to expand our reach and market share."

Crest Nicholson, Countrywide and Esure are among the other new firms on the London Stock Exchange in the last few months.

Despite the impressive performance of Partnership in its first day on the market, the London Stock Exchange was slightly down for the day at 15:51 BST, having fallen by 0.29 per cent.

Find up to date information on the FTSE 100 and spread betting strategies at City Index

Join our live webinars for the latest analysis and trading ideas. Register now

GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.