FTSE 250 movers: Ladbrokes and GVC rally on deal news; DS Smith drops

Michele Maatouk WebFG News | 07 Dec, 2017 15:22 | | |

Ladbrokes, betting, gaming, bookmakers, gambling

London’s FTSE 250 was flat at 19,824.17 in afternoon trade on Thursday, but M&A provided a welcome distraction from the drudgery of Brexit news.

Ladbrokes Coral surged on news is it in advanced talks with GVC Holdings about a possible £3.9bn takeover of the bookmaker. GVC was also sharply higher on the deal.

William Hill rallied after it settled a dispute with NYX, a Toronto-listed gaming software company in which the bookmaker owns a stake.

On the downside, shares in gambling software company Playtech fell on the back of the Ladbrokes Coral/GVC news, amid concerns about the implications of the deal on its contract with Ladbrokes, for whom it provides online platforms.

Commenting on the deal news, Shore Capital said in a note: “We would highlight Playtech. At this stage we are uncertain our the potential impact on one of its most important licensees although note its stake in Ladbrokes Coral is worth approaching 80p per share.”

Packaging and paper group DS Smith was in the red after saying sales increased strongly in the first half of the year but profits grew more slowly due to higher paper prices.

Investec and Paypoint were weaker as their stock went ex-dividend.

Risers

Ladbrokes Coral Group (LCL) 180.20p 32.79%
GVC Holdings (GVC) 990.00p 8.91%
William Hill (WMH) 310.30p 6.49%
Sophos Group (SOPH) 550.50p 4.76%
JD Sports Fashion (JD.) 331.95p 4.39%
Just Group (JUST) 163.10p 3.36%
Alfa Financial Software Holdings (ALFA) 495.00p 3.12%
esure Group (ESUR) 262.60p 2.58%
888 Holdings (888) 266.40p 2.46%
Spire Healthcare Group (SPI) 242.80p 2.45%

Fallers

Aggreko (AGK) 791.50p -3.06%
Investec (INVP) 483.90p -2.75%
PayPoint (PAY) 890.50p -2.73%
Playtech (PTEC) 823.00p -2.72%
Smith (DS) (SMDS) 525.00p -2.60%
Britvic (BVIC) 799.00p -2.56%
Hochschild Mining (HOC) 219.00p -2.19%
Electra Private Equity (ELTA) 940.00p -2.19%
RDI Reit (RDI) 34.06p -2.15%
Rank Group (RNK) 240.10p -2.00%

More news

16:06 Airbus chief executive to step down in board shake-up

The chief executive of French planemaker Airbus will step down from his position in 2019 as the company announced a major shake-up of its management team.

16:06 FTSE 250 movers: TalkTalk rises but Serco gives back gains

London’s FTSE 250 was up 0.1% to 20,023.23 in afternoon trade on Friday as the Christmas lull kicked in.

16:05 US industrial production rises slightly less than expected in November

Industrial production in the States rose slightly less quickly than expected last month, despite higher output of business equipment and materials.

16:03 Strategic Minerals renegotiates acquisition of Leigh Creek Copper Mine

Diversified mineral production and development company Strategic Minerals announced on Friday that, after the successful completion of technical and financial due diligence on the Leigh Creek Copper Mine company, it has agreed to continue with the acquisition on renegotiated terms.

15:54 FTSE 100 movers: Sky jumps but retailers retreat on H&M sales

London’s FTSE 100 was up 0.3% to 7,469.23 in quiet afternoon trade on Friday.

15:49 Gfinity partners with Microsoft for next Halo World Championship

International esports entertainment group Gfinity has been named as a preferred event partner to Microsoft for the forthcoming ‘Halo World Championship 2018’ for the next season, it announced on Friday.

15:46 Hutchison Chi-Med begins fruquintinib trial in US

Hutchison China MediTech, known as Chi-Med, has initiated the United States Phase I bridging clinical trial of fruquintinib, it announced on Friday.

14:50 Ceres Power upbeat ahead of half-year point

Solid oxide fuel cell technology developer Ceres Power Holdings updated the market on its trading ahead of the end of the six month period to 31 December on Friday.

14:46 Conviviality offers failed P&H £25m for 109 stores

Independent alcohol wholesaler and distributor of alcohol and impulse products Conviviality announced on Friday that its wholly-owned subsidiary Bargain Booze has offered to acquire the business and assets of 109 convenience stores, and the rights as franchisor of a further 18 franchisee-operated stores trading under the fascia 'Central Convenience'.

14:43 Nektan's Respin signs deal with Seven Feathers Casino

Respin, a wholly-owned subsidiary of Nektan, has reached an agreement with Seven Feathers Casino Resort in Oregon.