Betfair shares battling to fight back

Early in the week Betfair shares cracked the £10 mark again for the first time in a while, things were starting to look up, particularly on the back of some hard work promoting the company to its float partners last week. But that price took a real pounding yesterday, dropping back to 917p overnight, with a 15p recovery so far this morning. What triggered it? Did the market panic over another cold spell which may cause racing cancellations? Did some 'expert' analyst put out a sell call or did the market not like Betfair's association with sacked Sky pundit Andy Gray?

Who knows - I've given up trying to predict what the stock market will do on a day-to-day basis...Posted byScott Fergusonat09:55

Betfair shares rebounding

Britain starts to thaw out and Betfair's share price starts to rise again. As I surmised last week, the icy weather appeared to be the trigger behind the plunge in price down to a low of 1150p on Friday. Seven days later, it's up over a pound to 1263p.