Betfair shares off to strong start

Sports betting firm Betfair was valued at £1.4bn (€1.6m) on its stock market debut today.

The listing represents a major landmark for Andrew Black, a one-time professional gambler, and former City trader Edward Wray. The pair founded the business 10 years ago and saw their combined stake valued at more than £320m (€361m) before the start of trading today.