Shares in Party Gaming (PRTY.L) on the FTSE 250 surged by nearly three per cent, making them one of the top movers on the index. The price increase reflected increasing demand for the shares after Daniel Stewart & Company upgraded its rating for the online gaming giant from "hold" to "buy".

In an accompanying note, the analyst stated that Party Gaming's is a good bet thanks to its market leadership position in the online poker, casino and bingo space. The company also offers online backgammon and sports betting in its portfolio of products. This spread of products and an increasingly favourable market for online gaming limits its downside risk at current prices, the company summarised in a note.