Partygaming joins Footsie index

The table is turning for Partygaming

Internet poker giant Partygaming will join the ranks of the UK's elite stocks following this week's reshuffle of the FTSE 100 index.

Partygaming is being elevated to the top flight just two months after its stock market debut despite a dramatic plunge in its share price.

The company spooked investors earlier this week when it warned about a slowdown in online gaming growth.

But, still valued at £4.2bn, it will be higher up the list than BA and Dixons.

Partygaming will replace recruitment specialist Hays.

Winners and losers

Meanwhile, oil and gas exploration firm Cairn Energy is to re-enter the index at the expense of media group Emap whose shares have underperformed since the last reshuffle.

Cairn's market value has risen to about £2.8bn following a series of successful drillings in Rajasthan, India.

Meanwhile, Mr Kipling cake maker RHM and property investor Mapeley are set to join the FTSE 250 index following their flotations this summer.

They were joined by Aberdeen Asset Management, plant hire firm Ashtead, keyhole surgery equipment maker Gyrus Group and Insight Foundation Property Trust.

Among those on their way out of the FTSE 250 Index were filter paper manufacturer Whatman and telecoms firm Kingston Communications.

Changes to the Footsie will be based on Tuesday's closing prices and will take effect on 19 September.