FTSE 250 movers: Aveva rockets on Schneider takeover, oil stocks lower

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 would acquire the firm in a reverse takeover deal, beating out rumoured rivals Emerson and General Electric. Investec labelled the deal “transformational” and lifted its recommendation from ‘hold’ to ‘buy’, while Investec lifted its price target for the stock from 1450p to 2600p.

Just Eat was buoyed by positive broker sentiment, following bullish comments from Bank of America Merril Lunch.

Tullow Oil dipped after announcing that gas exports from the Jubilee Field to the Ghana Gas plant at Atuabo have been suspended since 3 July due to technical issues and are not expected to resume until mid-August.

Fellow oil stocks including Petrofac, Nostrum Oil & Gas and Premier Oil were also lower, as Brent prices slumped.

Miners such as Lonmin, Acacia Mining and Kaz Minerals were trading in the red as metal prices tumbled across the board.

Risers
Aveva Group (AVV) 2,283.00p +28.84%
Man Group (EMG) 158.80p +4.41%
Just Eat (JE.) 454.30p +3.75%
NMC Health (NMC) 825.50p +3.06%
Ladbrokes (LAD) 131.60p +3.05%
Virgin Money Holdings (UK) (VM.) 398.60p +2.78%
Bodycote (BOY) 675.50p +2.66%
Domino's Pizza Group (DOM) 799.00p +2.37%
Morgan Advanced Materials (MGAM) 337.20p +1.97%
Hellermanntyton Group (HTY) 339.60p +1.92%

Fallers
Centamin (DI) (CEY) 54.85p -6.96%
Acacia Mining (ACA) 258.40p -6.71%
Lonmin (LMI) 75.80p -6.65%
Tullow Oil (TLW) 267.10p -5.15%
Premier Oil (PMO) 136.30p -4.55%
Petrofac Ltd. (PFC) 872.00p -3.81%
Kaz Minerals (KAZ) 187.70p -3.60%
Zoopla Property Group (WI) (ZPLA) 239.00p -3.04%
Redefine International (RDI) 53.40p -2.91%
Wood Group (John) (WG.) 594.50p -2.54%