FTSE 250 movers: 888 surges; oil stocks in the red

(Sharecast News) - London's FTSE 250 was down 0.2% at 18,375.87in afternoon trade on Monday. William Hill owner 888 was the standout gainer on the index following a report that it has rejected a £700m takeover approach by Playtech.

The Sunday Times cited City sources as saying that Playtech made a written indicative approach to acquire 888 at 156p a share in July, only for it to be rejected as undervaluing the company.

On the downside, Harbour Energy and Energean were both in the red as oil prices fell.

Oanda market analyst Craig Erlam said: "The OPEC+ 'deal last week was unconvincing, to say the least, and oil prices have been in decline ever since. Brent crude is off around 8% from Thursday's highs and not trading far from the November lows. There's clearly a lack of unity around the recent cuts so compliance is going to be a major issue.

"And with markets seemingly anticipating more of an economic slowdown next year, the announcement simply doesn't go far enough. It's another large cut but how much will actually be delivered on? And are we at the limits of what the alliance is willing to achieve to balance the markets?"

FTSE 250 - Risers

888 Holdings (DI) (888) 82.95p 17.49% Carnival (CCL) 1,139.00p 5.32% Mobico Group (MCG) 71.45p 5.07% Ceres Power Holdings (CWR) 183.00p 4.99% Auction Technology Group (ATG) 512.00p 4.38% Digital 9 Infrastructure NPV (DGI9) 31.75p 3.59% Mitchells & Butlers (MAB) 231.40p 3.12% Ashmore Group (ASHM) 184.00p 2.85% TUI AG Reg Shs (DI) (TUI) 501.50p 2.85% Vesuvius (VSVS) 445.00p 2.82%

FTSE 250 - Fallers

Harbour Energy (HBR) 219.60p -3.30% Energean (ENOG) 992.00p -2.75% Essentra (ESNT) 148.60p -2.62% Johnson Matthey (JMAT) 1,533.50p -2.45% TBC Bank Group (TBCG) 2,685.00p -2.36% Senior (SNR) 166.40p -2.23% Ferrexpo (FXPO) 72.70p -2.15% Assura (AGR) 44.36p -2.03% Mitie Group (MTO) 98.80p -1.98% Spirent Communications (SPT) 108.20p -1.90%