FTSE 250 movers: Playtech surges on acquisition; Go-Ahead slips

London’s FTSE 250 index was up 0.3% to 16,857.47 in afternoon trade, as Theresa May took over as Prime Minister from David Cameron, removing the political instability that had rattled markets.

Playtech was the standout gainer after saying it was buying 90% of sports betting software maker Best Gaming Technology for €138m.

Playtech has a call option to purchase the remaining 10% of BGT at a valuation of 6x BGT's 2019 earnings before tax, interest, depreciation and amortisation, subject to maximum price of €55m with Sageder having certain put options over his 10% holding at the same valuation.

Miners were also on the front foot as metals prices advanced, with Centamin, Vedanta Resources and Polymetal all in the black.

On the downside, transport operator Go-Ahead was under the cosh a day after London mayor Sadiq Khan called for the Southern Rail franchise to be withdrawn from the company after months of delays and cancellations.

After passengers staged a protest on Monday at Victoria station labelling the service “Southern Fail”, Khan sympathised with the commuters and urged the Department for Transport to temporarily take over the franchise from Govia Thameslink Railway (GTR), which is 65%-owned by Go-Ahead.

Risers

Playtech (PTEC) 851.50p 4.35%
NMC Health (NMC) 1,168.00p 4.29%
Ladbrokes (LAD) 124.00p 3.33%
Moneysupermarket.com Group (MONY) 270.60p 3.24%
Dignity (DTY) 2,868.00p 3.09%
Centamin (DI) (CEY) 163.30p 2.64%
Vedanta Resources (VED) 539.00p 2.57%
Ocado Group (OCDO) 261.00p 2.55%
Polymetal International (POLY) 1,130.00p 2.54%
Grafton Group Units (GFTU) 534.50p 2.39%

Fallers

IP Group (IPO) 158.10p -5.78%
CLS Holdings (CLI) 1,385.00p -3.82%
JRP Group (JRP) 107.40p -3.24%
International Personal Finance (IPF) 316.00p -3.19%
National Express Group (NEX) 315.30p -3.10%
CYBG (CYBG) 235.60p -3.05%
Card Factory (CARD) 310.20p -2.85%
Entertainment One Limited (ETO) 195.90p -2.78%
Go-Ahead Group (GOG) 1,894.00p -2.72%
Marshalls (MSLH) 260.20p -2.55%