THE DAILY BRIEFING

TRADE TRIUMPH

Payments processing firm Adyen saw its share price almost double as it started trading on the Dutch stock exchange.

The company, whose technology is used by Facebook, Netflix and eBay, was initially valued at £6.25bn, but by the end of the day it was worth more than £12bn.

CASH CONVERTER

Wealth manager Charles Stanley has reported a 30pc jump in profits to £11.4m for the year to March 31. Annual results showed total funds under management edged 0.8pc lower to £23.8bn.

DATA CRASH

Britain’s competition watchdog has raised concerns over a proposed merger between data firm Nielsen and Ebiquity’s marketing analysis business.

The Competition and Markets

Authority has given the two firms until June 20 to offer a solution or face an in-depth probe. The CMA said ‘ competition may be significantly reduced if the merger went ahead as planned’.

SLOW DOWN

Industrial production in the eurozone fell by 0.9pc in April – providing further evidence that the single currency bloc’s economy is slowing after a brief recovery.

The figures came as the DIW economic institute slashed its growth forecasts for Germany from 2.4pc to 1.9pc for this year and from 1.9pc to 1.7pc for next year.

RIG DEAL

Oil services firm Ades says it is expecting full-year results to be in line with expectations. It has just bought three Saudi-based offshore rigs from Nabors Industries, which will start bringing in revenue immediately.

METAL MINER

Platinum miner Tharisa has bought a 26.8pc stake in Karo Holdings for £3.39m, giving it access to an area covering around 23,903 hectares in the Great Dyke hills area of Zimbabwe.

NEW SHARES

Oil and gas company Upland Resources is selling 120m new shares at 2.5p each. The cash raised will be used to fund its Wick well in the North Sea as well as ventures in Malaysia and Africa.

STAFF STRUGGLES

Half of businesses are struggling to find suitably qualified staff, leading many to recruit candidates who can be trained on the job, a study by recruiters Robert Half claims.

ENERGY FUND

Solar power investment firm Next Energy Solar

Fund says net asset value has increased from £479m to £605m.