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STOCKS NEWS EUROPE-Aveva up on earnings, CEO outlook

Tue May 26, 2009 4:55am EDT

Stocks

   

Shares in engineering software group Aveva (AVV.L) rise 4.4 percent after it posts slightly better than expected full-year revenue and pretax profit, and its chief executive says trading outlook had not worsened since April and may have improved slightly. Numis lists its stance on Aveva as an "add", while Investec maintains its "buy" stance on the company.

"The key to the results is the outlook and the cost base level," Investec says in a note. "No material change in the trading backdrop since the pre-close statement 6 weeks ago, which we see as positive."

For more on Aveva's earnings double click on [ID:nnLQ609972]

Reuters Messaging rm://catherine.bosley.thomsonreuters.com@reuters.net


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