Invensys (LSE: ISYS) plummets on squashed bid talks, but Micro Focus (LSE: MCRO) turns in good results.
The FTSE 100 (UKX) fell back a bit this morning, and is currently down 22.5 points on 5,600. But that comes after two strong days that have pushed the index of top shares up quite nicely for the week so far.
It all seems due to a few sparks of optimism finally coming from the eurozone, coupled with some positive results from our high streets and from other sectors, with some firms -- like Home Retail (LSE: HOME) -- looking like they might have passed the bottom.
And it's pretty much the same across the main indexes of Europe, which are a tad down today, but up nicely on the week.
Shares in Invensys (LSE: ISYS) dropped 16% in morning trading, down 42p to 215p, after spiking up 32% in very late trading yesterday. The reason? Bid speculation. The firm made a statement early this morning that it was aware of yesterday's leap, and that it had indeed been engaged in takeover talks, but that those talks have been canned.
AIM-listed Noventa (LSE: NVTA) saw its shares plummet by 24% this morning, to 3.1p, valuing the company at just £5m, after it announced that it's latest refinancing plans are in tatters. The troubled tantalum miner has until 31 July to find replacement funding for its expiring loan facility.
Less dramatic fallers included Go-Ahead Group (LSE: GOG), down 22p (2%) to 1,196p after the travel operator released a pre-close update that actually looked reasonable.
Dixons Retail (LSE: DXNS) also lost a bit of ground, falling 1% to 15.9p on the day of its annual results release. But that's after a strong anticipatory rise, which sees the shares up nicely on the week.
Some nice results
Software house Micro Focus (LSE: MCRO) had a good morning, with its shares rising 22p (4.8%) to 474p on annual results day. The good news added to a fine year for the firm, which has seen an overall 30% growth in the share price.
Good annual results also boosted Ashtead Group (LSE: AHT), which put on 13.6p (5.4%) to 264p, after showing nice profit growth.
Mixed resources action
Sirius Petroleum (LSE: SRSP) gained 7% to 3.4p on a development update, and Shanta Gold (LSE: SHG) is up 8% to 21.8p after a new plant was successfully commissioned.
But New World Oil & Gas (LSE: NEW) dropped 6% to 11p, despite an update on its Blue Creek Project, which it described as positive, and Aquarius Platinum (LSE: AQP) fell 9% to 54p after announcing the mothballing of its Everest mine.
As always, this morning's news saw some winners and losers -- and perhaps some buying opportunities. For more share ideas, the Motley Fool's "Top Sectors For 2012" report outlines some attractive companies within three favourable industries. The report is free to all private investors -- and you can download your copy now.
The Motley Fool is helping Britain invest. Better. And with the economy so uncertain, we're urging everyone to read "10 Steps To Making A Million In The Market" -- it may transform your wealth. Click here now to request your free, no-obligation copy.
Further investment opportunities:
> Alan Oscroft does not own any share mentioned in this article.