Shares in UK internet auction house QXL have continued to soar today on the back of a deal signed late last week with search engine Excite.
The company's shares have risen more than 45 per cent to hit 712p in trading today. Prior to the deal with Excite, which sees QXL become the search engine's auction partner, the company's share price stood at 482p. QXL floated in October at 195p.
QXL chief executive, Jim Rose said: "We are delighted to be the first online auction house to have co-branded, pan-European auctions with Excite. This agreement provides Excite users with quick and easy access to QXL auction sites."
It has been a good week for UK internet stocks with 365 Corporation floating on Friday at 160p and today trading at 255p. Freeserve, which floated at 150p, was today trading at 538p.