Scottish champions and Coca-Cola Cup holders Celtic have made a successful debut among the heavyweights on the London Stock Exchange. At the close of trading, Celtic added around £11 million to its value, bucking the gloomy picture swirling around the rest of the market.

As other shares plunged into the red, on early trading, the Glasgow club shot up 52 1/2p to 347p - leading to significant paper gains for big shareholders such as financier Mr Dermot Desmond, who owns some 15 per cent of the shares.

Analysts had forecast a surge of interest in the club, with the listing following hot on the heels of BSkyB's bid for Manchester United.