FTSE 250 movers: Misys leaps on new bid interest

20th Feb 2012 14:36

Misys, the software firm, soared on news it has received a rival bid from Vista Equity Partners, just a fortnight after it agreed a merger deal with Swiss firm Temenos. Despite Misys clocking up solid gains it was CSR which made it into the top spot among FTSE 250 stocks, after the firm's fourth quarter results came in at the top end of guidance and above the broker's expectations. Meanwhile, Aveva, the engineering information technology company, was heading lower after UBS downgraded its rating on the stock on valuation grounds. It did however highlight "many positives" for the firm. The broker has cut its recommendation from "neutral" to "sell", saying that the stock's valuation looks high with the business's fundamentals "more than adequately discounted". Nevertheless that target price is lifted from 1,400p to 1,550p after UBS upped its 2013 estimates. FTSE 250 - RisersCSR (CSR) 273.90p +20.29%Misys (MSY) 338.00p +9.17%Aquarius Platinum Ltd. (AQP) 147.00p +6.29%Ocado Group (OCDO) 101.50p +5.67%Persimmon (PSN) 615.00p +4.59%Home Retail Group (HOME) 113.90p +4.40%Rentokil Initial (RTO) 80.00p +3.96%Greggs (GRG) 561.00p +3.89%Domino Printing Sciences (DNO) 641.00p +3.81%Taylor Wimpey (TW.) 48.73p +3.79%FTSE 250 - FallersKenmare Resources (KMR) 56.60p -4.07%Homeserve (HSV) 239.50p -3.93%Restaurant Group (RTN) 303.00p -2.16%PZ Cussons (PZC) 315.20p -1.96%Spirit Pub Company (SPRT) 55.50p -1.77%Pennon Group (PNN) 695.00p -1.56%Aveva Group (AVV) 1,674.00p -1.47%JD Sports Fashion (JD.) 851.50p -1.33%Brown (N.) Group (BWNG) 249.90p -1.23%Spectris (SXS) 1,685.00p -1.17%NR