Playtech shares surged on the London Stock Exchange last week on news that the software developer is returning €150m to investors, having decided to reduce its acquisitions funding.

The stock rose to record levels, even though profits had been affected by the fall in sterling following Brexit. By close of business on Thursday, the stock had risen by 3.2 per cent to its highest level of 928p following news of the special dividend of €0.46c per share on December 6.

This does not mean that the company is no longer on the acquisitions trail, however. A spokesman for the company is widely reported as "in discussions" with potential companies. The first-half results of the group showed that pre-tax profits fell 40.2 per cent to €51.3m despite an increase in revenues to €337.7m or 18.1 per cent. The fall was the result of the reduced value of the pound sterling.