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FTSE 100 movers: Entain surges after BetMGM update; M&S in the red
(Sharecast News) - London's FTSE 100 was up 0.2% at 8,432.74 in afternoon trade on Monday. Entain was the top gainer on the index as it reported a jump in revenue at BetMGM and a swing to profit as momentum from the second half carried into the first quarter.
Entain said the US sports betting and iGaming operator - a joint venture with MGM Resorts - saw net revenue rise 34% year-on-year in the three months to the end of March, driven by its "leading iGaming offering and strengthened sports product, and refined approach to player management".
The company pointed to strong growth across both iGaming and online sports, which saw increases of 27% and 68%, respectively.
BetMGM swung to a core profit of $22m in the first quarter, versus a loss of $132m in the same period the year before.
Entain is due to publish a first-quarter trading update on Tuesday.
Housebuilder Berkeley Group was boosted by an upgrade to 'buy' from 'neutral' at UBS. Persimmon and Taylor Wimpey were also trading up.
Primark owner AB Foods advanced ahead of interim results on Tuesday.
On the downside, Marks & Spencer slumped as it continued to deal with the impact of a cyber attack which has led the retailer to pause online orders. According to Sky News on Monday, the retailer has ordered around 200 agency workers at its main distribution centre in Castle Donington to stay at home as it deals with the crisis.
Intertek and Rentokil were both weaker after initiations at 'underperform' by Baptista Research.
FTSE 100 - Risers
Entain (ENT) 640.40p 8.87% Fresnillo (FRES) 1,004.00p 2.19% Berkeley Group Holdings (The) (BKG) 4,088.00p 1.95% JD Sports Fashion (JD.) 79.04p 1.93% Associated British Foods (ABF) 2,240.00p 1.68% Diageo (DGE) 2,094.00p 1.40% Taylor Wimpey (TW.) 117.25p 1.38% Melrose Industries (MRO) 435.30p 1.37% Hikma Pharmaceuticals (HIK) 1,925.00p 1.37% Persimmon (PSN) 1,275.00p 1.31%
FTSE 100 - Fallers
Marks & Spencer Group (MKS) 376.90p -2.36% Intertek Group (ITRK) 4,532.00p -1.35% International Consolidated Airlines Group SA (CDI) (IAG) 262.20p -1.28% Relx plc (REL) 3,954.00p -1.22% Weir Group (WEIR) 2,286.00p -1.12% Babcock International Group (BAB) 798.50p -0.99% Rentokil Initial (RTO) 339.90p -0.93% Beazley (BEZ) 886.50p -0.84% Anglo American (AAL) 2,133.00p -0.70% Standard Chartered (STAN) 1,083.50p -0.69%
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