BUZZ-Ladbrokes: strong Q1 despite "worst" Cheltenham fest

** British bookie Ladbrokes jumps c.5%, devising it
one of the top FTSE midcap gainers ** Posts 10.6% alternate in Q1 taxation scorn intriguing
Cheltenham results ** LAD results in desolate line to equal William Mound
, which warned on FY net close month, citing Cheltenham
fete losings and new rules that crumpled income from high-value
on-line customers

** Although Ladbrokes mentions Cheltenham and regulative
woes, the impingement of either of these doesn't seem to be a
substantial dredge, says UBS ** This suggests to us that a great share of William Mound's
fallible functioning is in fact due to commercialize part losings,
brokerage adds

** Livestock topper performer on FTSE 350 Go and Leisure Exponent
, which is fine-tune 0.7%

** Ladbrokes vs peers YTD graph: tmsnrt.rs/1VHecfO (RM: aastha.agnihotri.thomsonreuters.com@reuters.net)