MARKET PAPER: investors bet on bookmaker William Hill

William Hill has a 25-year partnership with American casino operator Eldorado Resorts, giving it access to a growing pool of 23 million customers in 11 US states

Investors cheered when bookie William Hill made further gains in the US after the ban on sports betting was lifted.

It has a 25-year partnership inked with the American casino operator Eldorado Resorts, giving it access to a growing pool of 23 million customers in 11 US states.

British betting offices have flowed into the US since the Supreme Court ruling in May in which the ban was lifted.

The country became even more important for the sector after a crackdown on slot machines in the UK that pushed William Hill's stock to a five-year low in August.

William Hill has a 25-year partnership with American casino operator Eldorado Resorts, giving it access to a growing pool of 23 million customers in 11 US states

William Hill has a 25-year partnership with American casino operator Eldorado Resorts, giving it access to a growing pool of 23 million customers in 11 US states

Under the deal, Eldorado will receive a 20 percent stake in William Hill US. It is the third American deal of chief executive Philip Bowcock in just over a month, increasing the shares by 4.83% (or 12p) to 260.5p.

Troubled athletisure retailer Footasylum continued to slide, meaning it has now dropped about 60 percent since the earnings warning on Monday.

It dropped 12.42 percent, or 4.75p, to 33.5p amid a scathing note from analysts at Peel Hunt that offered investors to start dumping shares.

The team commented: "Our conversation with the company did not show that the company is about to stabilize, nor that the shares have stopped falling, and management seems to have lost confidence."

In general, the FTSE 100 closed 1 percent or 74.58 points to 7,383.28 points, amid a 8-pound time for the pound.

Stock Watch – Gem Diamonds

Shares in Diamond Miner Gem Diamonds jumped when it posted an 81 percent increase in half-yearly sales to £ 129 million, the best half since 2011.

The sale was made possible by a record number of ten diamonds of more than 100 carats from the Letseng mine in the African kingdom of Lesotho.

Liberal analysts said: & # 39; The turnaround was amazing and management is convinced that more will come. & # 39;

Stocks have risen by about 63 percent in the past year, 2.16 percent or 2.5 percent points to 118.5 percent points.

Sterling fell early in the midst of business pessimism before it sprang up after Bloomberg reported that Germany had abandoned the main Brexit requirements, suggesting that a deal with the UK may be on the horizon.

However, it lost momentum after the reports were refused by both countries, while analysts warned that Germany's attitude was not so crucial to the outcome.

Sliding currencies in Turkey and South Africa, meanwhile battered packaging company Mondi, which has a strong presence in both countries.

Added to the free fall of the Turkish lira, the edge weakened when South African data confirmed that the country was in recession.

Mondi fell 1.63 percent, or 35p, to 2.115p. Turkey also weighed on tour operator Thomas Cook (4.94% or 4.05p to 77.9p), while South Africa's Mediclinic International dent – with 2.51% or 12.5p to 486.2p.

Fresh from selling its US shale oil wells to BP in a £ 8 billion deal, BHP saved around £ 27.4 million to gain a better grip on the buyer.

The Anglo-Australian miner, under pressure from activist investor Elliott, bought a 6 percent share in the Australian miner SolGold, owner of Cascabel's promising copper gold project in Ecuador.

Miners want more copper projects, because demand is expected to increase, but large projects are thin on the ground.

BHP tried to buy 10 percent of SolGold for £ 23m in 2016, but was shot by bosses who said their offer was inadequate.

It now pays around £ 27.4million for the 6-piece Guyana Goldfield ring.

Investors in SolGold cheered and sent their shares with 20.6 percent or 4.4p to 25.8p. However, BHP shares were held back by concerns about renewed tensions between the US and trading partners, which lowered commodity prices.

BHP decreased by 1.02 percent, or 16.6 p.c. To 1,618.4 p, while Rio Tinto also dropped by 0.27 percent or 9.5 p to 3.564d. Anglo American fell by 1.15 percent, or 17.8p, to 1.530 p.

Investors in troubled Chemring were applauded after it was hired by the US Department of Defense to assist in detecting chemical weapons.

Shares deposit 20 percent in August after an employee died in an explosion at the main site in Salisbury.

They tipped 5.37 percent or 11p yesterday, up to 216p.

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