DEBORAH MARCHINI, CNN ANCHOR: London's stock markets laid an egg this morning, Egg being the name of the Internet banking arm of Britain's Prudential.</s>DAVID HAFFENREFFER, CNN ANCHOR: Imagine that. Janet Guyon, "Fortune" magazine's London bureau chief, has more from London. Where is Egg trading now, Janet?</s>JANET GUYON, LONDON BUREAU CHIEF, "FORTUNE": Well, it's a -- it hasn't actually laid an egg, but it's, in that sense, they're trading up at about 177 pence a share, the issue was priced at 160 pence a share, and they did trade as high as 185 earlier this morning. So it's a pretty good debut for Egg, which is the on-line banking subsidiary of Prudential here. They had talked at one point about the delaying this flotation, but it is considered to be a successful flotation here, about nine times oversubscribed.</s>MARCHINI: What does it mean for other Internet IPOs in Europe, Janet?</s>GUYON: Well, what people in the banking business are saying is that for other Internet companies, if you've got a good strategy, good management and are in the right market, you can float. I talked to Goldman Sachs this morning and they say they floated an Internet portal last week called Scandinavian Online and shares of that stock are up, that was priced at 115 Swedish kroner, it is trading at about 147. They also floated an Italian B2C Internet company, a company that sells consumer electronics goods over the Internet, and that went out at 30 euros per share. It is now trading at about 53 euros per share. So there is a market for Internet stocks, an IPO, if you've got the right strategy, the right management, and usually if you are backed by a big company like Egg, which is backed by the Prudential.</s>MARCHINI: All right, Janet Guyon, "Fortune" magazine, thank you.
'Fortune': Shares of Egg Rise on Their First Day of Trading