Aveva, Servelec and Herencia Resources

“Equities rebounded as sterling strengthened, aided by lower-than-expected unemployment figures and an increase in average weekly earnings which also beat forecasts,” says AJ Bell Investment Director Russ Mould.

Cambridge-based technology group Aveva’s shares have been on a roller-coaster with investors reacting to an on-off potential merger with Schneider Electric's software business. Aveva shares jumped after it confirmed that it had received a revised proposal from Schneider Electric but slumped when trading resumed today after the latest talks collapsed. This was the second time the two firms have held talks about merging without coming to fruition. Aveva’s shares were down more than 12% in lunchtime trading at 1,619.00p.

Technology and software group Servelec Group lost nearly a third of its value  after warning that operating profits will be significantly lower than forecasts and down on last year. A heavier than usual second half weighting had been expected but there has been a further slippage in contracts. Servelec’s shares were down by over 32%

Herencia Resources’ shares were up after the sale of its 70% stake in the Paguanta gold project in Chile moved a step closer. Herencia has received a second tranche payment of $100,000 from Golden Rim Resources following formal execution of the documentation for the sale. This will give Herencia sufficient working capital to last until at least the end of July. Both companies expect to complete the deal by 4 July.

These articles are for information purposes only and are not a personal recommendation or advice.