Royal Mail shares close up 38%

Shares in Royal Mail have closed 37.9% up at 455p after a feverish first day of trading on the stock market.

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Royal Mail workers protest outside Stock Exchange

Postal workers staged a protest outside the London Stock Exchange in the City this morning, as investors scrambled to buy shares in the 500-year-institution.

Bill Hayes, leader of the Communication Workers Union said the flotation was a "tragedy" and that the union would ballet members next week for strike action.

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