Foxtons’ shares rose after a global fund manager raised its investment in the agent.

On Friday, as the market closed for the weekend, shares in Foxtons rose 2.7% to 310p after Fidelity Worldwide Investment added to its stake.

Investors must declare any holdings over 5% in a listed company, and Fidelity now owns 13,775,119 shares.

At the time of Foxtons’ listing last September, Fidelity bought a 3.2% stake. Foxtons floated with an offer price of 230p although trading started at 19% above.

Foxtons reported a strong start to the year, with turnover for the first three months standing at £34.1m, up 19.2% on the same period in 2013. The company has opened five new branches this year – in Greenwich, Beckenham, Earls Court, Stoke Newington and Harrow – with two more planned this autumn.

Yesterday, the shares added another 6p to close at 316p.