InvestmentsJun 19 2014

Markit shares jump on US debut

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US stocks are drifting on Thursday, but those of financial data provider Markit have a clear direction on their debut.

Shares in the company climbed almost 10 per cent as they began trading in New York, rising as high as $26.71 after selling for $24 each on Wednesday night (18 June), reports FTAdviser sister publication FastFT.

Having raised $1.28bn and with its stock providing it a fresh currency for acquisitions, analysts say Markit is in a better position to compete with rivals including Thomson Reuters and Bloomberg.

Markit, which is run by chief executive Lance Uggla, offers pricing across a series of different financial markets.