Shares in online gaming firm 888 up 20 percent after Reuters exclusive

Shares in online gaming firm 888 advanced 20 percent on April 1, reversing an earlier decline of 6 percent, after Reuters exclusively reported that betting shop owner Ladbrokes was close to lodging a fresh bid for the online gaming group and that it had already had an offer of 70 pence a share turned down. Bloomberg picked up the story, citing Reuters, some six hours later. Dow Jones failed to match. Peel Hunt and stockbroker BTIG highlighted the report in research notes citing Reuters. The Times newspaper also picked up the story with an attribution to Reuters. Close to 4 million shares in 888 were traded in the hour after Reuters report hit the wire, with the shares rising from 40.44 pence to 52.75 pence before closing the day 15 percent higher at 50 pence. 15.1 million shares were traded in the stock during the day, nearly 7-and-a-half times the 90 day daily average.