FTSE 250 movers: 888 a winner, Carnival runs aground

The FTSE 250 was down 1.56% at 19,048.90 at 1400 BST.

888 rallied following a Times report that the UK government White Paper on reforming the gambling sector will include measures such as online casinos having maximum stakes of between £2 and £5 with a ban on free bets.

Broker Shore Capital said that if the measures reported by The Times prove to be correct, the outcome would be better than feared.

According to the report, the government - which is seeking to address gambling addiction - will announce maximum stakes of between £2 and £5 for online casinos, a ban on free bets and VIP packages for people who incur heavy loses and "non-intrusive" affordability checks.

A new ombudsman will also be set up, and the Gambling Commission, the regulator, will be given new powers and additional funding via an increase in the fees paid by the industry.

However, plans to ban gambling firms from sponsoring Premier League football teams have been dropped, as has a proposed mandatory levy that would fund research and treatment of gambling addiction, The Times said.

Cruise operator Carnival tumbled after Morgan Stanley slashed its price target on the shares and reiterated its ‘underweight’ rating. Shares in airlines, easyJet and Wizz Air fell on the news as did holiday firm TUI.

Domino's Pizza fell after CEO Dominic Paul announced his departure for Premier Inn owner Whitbread, succeeding outgoing CEO Alison Brittain.

Paul will join the group in early January 2023 as a result of Brittain's decision to retire from full-time executive life at the end of the 2023 financial year.

FTSE 250 - Risers

888 Holdings (888) 176.30p 6.08%
Plus500 Ltd (DI) (PLUS) 1,673.00p 1.95%
ICG Enterprise Trust (ICGT) 1,106.00p 1.84%
Syncona Limited NPV (SYNC) 203.00p 1.50%
Clarkson (CKN) 3,045.00p 1.33%
Games Workshop Group (GAW) 6,635.00p 0.91%
Serco Group (SRP) 179.30p 0.90%
International Public Partnerships Ltd. (INPP) 165.00p 0.73%
Tullow Oil (TLW) 50.15p 0.70%
RIT Capital Partners (RCP) 2,440.00p 0.62%