Entain is trading at £476.70 (-5.15%), with its FTSE 100 removal and expected index-fund selling the clearest explanation for the sharp move.
- The move into the FTSE 250 became effective on September 21, following implementation at the September 18 close; FTSE-tracking funds were expected to sell holdings.
- Pressure was compounded by plans to cut approximately 400 customer-care roles amid higher UK gambling taxes.
- The index rebalance is a clearer explanation than broader market weakness.