FTSE 250 movers: Aveva rockets on Schneider takeover, oil stocks lower
20th Jul 2015 14:05
(ShareCast News) - Mid-caps inched higher on Monday as a raft of positive broker sentiment offset tumbling oil and metal prices. As of 14:30 BST, the FTSE 250 was trading 0.32% higher at 17,814. Shares in Aveva were up by more than a quarter after engineering design firm Schneider Electric said it
Read moreLondon midday: Commodities weigh on equity gains, further gold and oil downside eyed
20th Jul 2015 12:57
(ShareCast News) - Softness in commodities markets were limiting gains on equities come midday in London, with some traders pointing out there was still margin for further downside moves in the likes of oil or gold, as investors monitored events in Greece. That followed a wave of selling in gold dur
Read moreAnalysts label Aveva deal 'transformational' as shares rocket
20th Jul 2015 12:34
(ShareCast News) - Analysts said Aveva's merger with Schneider was "transformational" as shares in the software firm rocketed. Shares were up 27.82% to 2,265p by 1140 BST after Aveva announced the reverse takeover deal. Investec labelled the deal "transformational" and lifted its recommendation fro
Read moreLondon open: Global banks lead early gains, Aveva rockets
20th Jul 2015 09:53
(ShareCast News) - Risk appetite in markets was muted but positive in early trading as traders' eyes turned again towards Greece given the dearth of economic data due out on Monday. Greek banks reopened their doors and limits on cash withdrawals were relaxed slightly as the country prepared to pay b
Read moreAveva shares jump 25% on £550m Schneider Electric deal
20th Jul 2015 08:41
(ShareCast News) - Shares in Aveva were up by more than a quarter after engineering design firm Schneider Electric said it would acquire the firm in a reverse takeover deal, beating out rumoured rivals Emerson and General Electric. At 0833 BST shares in Aveva were up 26.47% to 2,2241.35p. Under th
Read moreThursday broker round-up
16th Jul 2015 18:10
(ShareCast News) - Aveva Group: Panmure Gordon reiterates buy and 1,420p target. BP: JP Morgan Cazenove reiterates overweight. Centrica: Berenberg Bank reiterates underperform and ups target to 1,060p from 1,000p. Dixons Carphone: Canaccord Genuity ups target to 530p from 500p while reiterating bu
Read moreAveva says it remains resilient despite challenging market environment
9th Jul 2015 07:35
Aveva, a provider of engineering data and design IT systems said it remains a resilient business despite the challenging market environment. In a trading update for the period to 1 April ahead of its annual general meeting, the company said revenue and profit in the first quarter have continued to b
Read moreAveva acquires FabTrol
22nd Jun 2015 14:40
Engineering design and information group Aveva has completed the acquisition of software business FabTrol from the Dowco Group of Companies. Headquartered in Eugene, Oregon, FabTrol has operations in North America and the United Kingdom, providing fabrication management software to the steel fabrica
Read moreFTSE 250 movers: Aveva higher on bid speculation, Tullet Prebon hit by downgrade
15th Jun 2015 13:30
Mid-caps were firmly in the red on Monday afternoon, with every sector registering losses, as debt talks between Greece and its creditors came to an abrupt finish. As of 14:30, the FTSE 250 was trading 1.18% lower at 17,738. Aveva was trading higher on reports the software developer has hired banke
Read moreAveva said to be working with Lazard on takeover options
15th Jun 2015 07:30
Software developer Aveva has reportedly hired bankers Lazard to consider its strategic options as speculation over a bid from an American suitor grows. According to the Sunday Times, Aveva, which makes software for oil and gas companies, began working on takeover options with Lazard in February, tho
Read moreAveva acquires FabTrol for $6.5m
1st Jun 2015 11:35
Engineering data and design IT systems provider Aveva has reached an agreement to acquire FabTrol Systems from the Dowco Group of Companies for $6.5m (£4.26m). The FTSE 250 company said it expected the deal for the US fabrication management software provider to be completed by 26 June, adding the ac
Read moreWednesday broker round-up
27th May 2015 07:57
Beazley: JP Morgan upgrades to overweight from neutral and sets 308p target, up from 255p. Hiscox: JP Morgan upgrades to overweight from neutral and ups target to 950p from 801p. Lancashire Holdings: JP Morgan improves target price to 642p from 589p, stays at neutral. Dixons Carphone: Exane keeps
Read moreBroker tips: Royal Mail, Vodafone, M&S, Smiths Group, Booker, Aveva
21st May 2015 11:30
Royal Mail's full year results were given the stamp of approval by analysts at Deutsche Bank and Shore Capital on Thursday, although there remained caution about the highly competitive environment. ShoreCap retained a 'buy' rating, while Deutsche Bank reiterated its 'hold' stance on the shares and t
Read moreCitigroup downgrades Aveva to neutral, says valuation is up with events
21st May 2015 10:38
Citigroup downgraded its stance on Aveva to 'neutral' from 'buy' saying the valuation is up with events. While it continues to believe that Aveva is a high quality mid-cap name, Citi said that after the recent run - the shares are up 53% year-to-date - driven at least in part by ongoing bid speculat
Read moreJPMorgan Cazenove upgrades Aveva to neutral
20th May 2015 13:13
JPMorgan Cazenove raised its stance on Aveva to 'neutral' from 'underweight' and upped the target price to 1850p from 1220p. The upgrade is based partly on the oil price being stable in the $65 range, compared with less than $50 in January. JPM also noted that other end markets such as shipping and
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