Swiss investment bank UBS now holds a 10% stake in London agent Foxtons, it has been announced.

UBS’s holding, following a transaction on Monday last week, was 13.3m in direct shares and the right to recall lent shares equivalent to 165,835 shares, plus equity swaps equivalent to another 12.3m shares.

The transaction, giving UBS a 9.73% stake in Foxtons, was notified to the stock exchange on Wednesday.

Yesterday, a second transaction which took place on New Year’s Eve was also notified, raising the stake to 10.08%.

Its holding, if any, prior to the first transaction, has not been disclosed and was in any case below the notifiable threshold.

Yesterday, Foxtons shares rose slightly to finish at 53p.