After months of hiccups, rumours and confusion, Google is now listed and trading on the Nasdaq stock exchange, with an impressive first day trading gain of 18 per cent that took the stock soaring to $100 (£54).

The gain represents the first good news for the search engine company, which has had to deal with a wide range of problems in the run up to its high profile initial public offering (IPO).

And even though the company had to climb down from its initial share expectations, its $85 (£46) launch still represents the second highest IPO offer price in the US market - Genentech's 1999 IPO was the highest ever at $97 (£53).

The price rise seemed to justify the company's decision to cut back the number of shares they sold at the $85 debut, as well as the decision by its venture capital investors not to sell any shares up-front, betting on a higher price down the road.

About 22m shares changed hands in the company's first day of trading.