Shares in Aveva (LSE: AVV) have risen by around 5% today after the engineering data specialist reported a solid trading update. It stated that since Aveva’s results in May, the company has made satisfactory financial and operational progress in line with expectations. It expects the seasonality in the current financial year to be broadly similar to that of previous years.

One positive for investors in Aveva is the weakness of sterling. If this persists, Aveva expects to report a positive currency translation in future. With its balance sheet being strong and it having net cash of £133m, it seems to be well-placed to overcome any short-term challenges that present themselves.

Aveva has also today announced a change in its CEO, with the current CFO set to take on the senior role from January 2017. Looking ahead, Aveva is forecast to increase its earnings by 9% this year and by a further 7% next year. Although this is an impressive outlook, Aveva’s share price seems to be overvalued as it trades on a price-to-earnings growth (PEG) ratio of 3.1. Therefore, there may be better growth opportunities available elsewhere.

Benefitting from Brexit?

Also reporting today was Accrol Group (LSE: ACRL), with the independent tissue converter announcing a new contract with a major global retailer to supply toilet paper, kitchen rolls and facial tissues. The contract is expected to be worth over £10m per annum and further consolidates Accrol’s position as a major player within its industry.

Accrol could benefit from a downturn in the UK following the EU referendum. Over 50% of its sales are generated from the discount market segment and if consumers trade down to cheaper toilet paper and kitchen rolls, then its sales could rise. And with Accrol being significantly hedged against currency movements for the current financial year, its medium-term outlook remains bright.

On this topic, Accrol is on track to meet current guidance for the full-year and although it’s a small and relatively risky stock to own, it could prove to be a somewhat resilient buy over the medium-to-long term.

Irish move

Meanwhile, real estate investment trust (REIT) Hammerson (LSE: HMSO) has today announced that it has successfully secured the ownership of Dundrum Town Centre, which is a shopping and leisure destination in Ireland. The deal has been undertaken in a joint venture with Allianz Real Estate, with Hammerson’s total consideration for its share of the portfolio being just over £1bn.

The acquisition is in line with Hammerson’s strategy of investing in high-growth European retail markets and it will be accretive to the current year’s earnings. As such, it has been viewed as a positive move by the market, with Hammerson’s share price rising by 3% today.

However, the property market in the UK and Ireland could come under pressure in the coming months. The two economies are closely linked and if the UK experiences a recession then Ireland may also undergo a period of difficulty. Therefore, with Hammerson trading on a price-to-earnings (P/E) ratio of 17.5, there may be better options available elsewhere for long-term investors.

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Peter Stephens has no position in any shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.