FTSE 250 movers: Aveva lifted by UBS upgrade

8th Jan 2014 16:04

Aveva climbed strongly after UBS upgraded the software company from neutral to buy. It said it was "impressed with the performance in the core engineering and design business in the first half", and while doubtless cautious about other aspects of the group, UBS believes project lifecycles are long and Aveva's own E3D product cycle "looks promising". Shares in Domino's Pizza climbed after after a stronger sales performance in the fourth quarter. Canaccord Genuity helped push the stock higher after it lifted its recommendation for the stock from 'sell' to 'hold' and raised its target price on the stock from 480p to 500p. Oxford Instruments, a manufacturing and research company, climbed after it received approval from the majority of Andor Technology shareholders to go ahead with its proposal to acquire the company. Meanwhile, International Personal Finance was hit by comments from Panmure Gordon, which reduced its rating on the stock from 'buy' to 'sell' and said: "We are downgrading on the back of the regulatory action announced at the end of December in Poland. We have lowered our price target to 400p (down from 700p). Given that the appeal process over the proposed rate cap could last until 2016, and that Polish profits make up about half of the group total, we see downside risks predominating."Playtech, which creates and licences software and services for the online, mobile, TV and land-based gaming industry, fell despite reporting it had signed a deal with Holland Casino. The "landmark" agreement was made in preparation of forthcoming regulations in the Netherlands, in which Holland Casino holds a market-leading position, and as such is "best positioned to benefit from the introduction of on-line gaming regulations". FTSE 250 - RisersOcado Group (OCDO) 510.00p +10.97%Aveva Group (AVV) 2,277.00p +7.20%Domino's Pizza Group (DOM) 524.00p +4.17%Entertainment One Limited (ETO) 283.70p +3.65%JD Sports Fashion (JD.) 1,573.00p +3.15%Ted Baker (TED) 2,305.00p +3.04%Moneysupermarket.com Group (MONY) 193.80p +2.87%Savills (SVS) 665.00p +2.70%Pace (PIC) 341.10p +2.52%Telecity Group (TCY) 760.50p +2.36%FTSE 250 - FallersInternational Personal Finance (IPF) 487.30p -4.45%Imagination Technologies Group (IMG) 168.20p -3.89%Dairy Crest Group (DCG) 540.50p -3.57%Renishaw (RSW) 1,974.00p -3.47%Bwin.party Digital Entertainment (BPTY) 116.80p -3.23%Premier Oil (PMO) 302.30p -3.14%Rightmove (RMV) 2,721.00p -2.89%De La Rue (DLAR) 857.50p -2.83%Kenmare Resources (KMR) 18.68p -2.51%Murray International Trust (MYI) 1,008.00p -2.51%NR