Sector movers: Software stocks rise on Autonomy deal

19th Aug 2011 15:28

Software and computer services was the highest performing sector, benefiting from a move by US computing giant Hewlett-Packard (HP) which made a recommended offer for Cambridge-based software firm Autonomy. HP is offering 2550p for each Autonomy in a deal that values the data search software company at around £7,091m. Autonomy shares closed at 1,429p on Thursday but surged in early trading on Friday. By 16.12, the shares were up 72.92% at 2,471p.Other companies in the sector, including ARM Holdings, Micro Focus and Blinkx also saw their share prices rise as the proposed takeover also highlighted increasing merger and acquisition (M&A) activity in the technology industry.Meanwhile, the industrial engineers were the worst performing stocks, with FTSE 100 peers Weir and IMI dragging the sector down. NRTop performing sectors so far todaySoftware & Computer Services 685.50 +19.19%Technology Hardware & Equipment 620.04 +2.38%Oil Equipment, Services & Distribution 20,296.18 +0.65%Gas, Water & Multiutilities 4,463.15 +0.44%Electricity 7,653.15 +0.33%Bottom performing sectors so far todayIndustrial Engineering 6,049.97 -3.08%Electronic & Electrical Equipment 2,633.65 -2.68%Industrial Metals & Mining 5,155.36 -2.63%Personal Goods 19,702.81 -2.60%Automobiles & Parts 4,299.70 -2.34%