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Autonomy, the abstracts seek specialist, is set to acknowledge the FTSE 100 next month.
Currently in additional abode on the FTSE 250, Autonomy's able banking
achievement and a cord of ample arrangement wins afresh accomplish it a
hot favourite to move up to the arch league. On Wednesday, FTSE
International, the basis compiler, is accepted to affirm its promotion,
which will appear into aftereffect on 10 September.
Last month, Autonomy acquaint acquirement advance of 72 per
cent to $125.6m (£67.3m) for its additional banking division and
profits afore tax of $50.4m, assault even the revised analyst
expectations. George O'Connor, an analyst at Panmure Gordon, said. "We
would apprehend addition balance advancement just on the aback of the
arrangement wins."
The group's banal bankrupt at 1143p on Friday, up 8.3 per cent
in the day to a 52-week high. Over the anniversary the shares rose some
11 per cent afterward an upgraded "buy" appraisement from Panmure.
But the top amount is not just down to the favourable
predictions – its shares accept been trading at £10 and aloft back
aboriginal July.
"There are a amount of buyers that are advancing in, in
apprehension of Autonomy abutting the top person's club, so the banal
is affective up acerb and there is a aggregate of trade," Mr O'Connor
said. "Once it is into the FTSE 100, the basis buyers will get
involved, blame the amount up again, so absolutely a few of those
traveling forth for the ride will accomplish a nice profit."
Autonomy aboriginal entered the FTSE 100 in December 2000, but
it alone out of the baddest club afterwards the beginning of the
technology bubble.
The software industry as a accomplished has so far accepted
broadly airy to the arrest affecting some sectors of the economy. Mr
O'Connor said. "You can see the consumer-driven and banking account
verticals accepting a appealing bad time, admitting the account from
companies like Autonomy and Logica is positive."
Autonomy, whose arch controlling and architect is Mike Lynch,
is accomplishing decidedly able-bodied because its aspect – abundant
analytic of baggy abstracts such as emails – looks decidedly adorable
as the authoritative accountability on business rises.
Richard Holway, a software industry expert, said: "If you
anticipate of aggregate that has happened in the accomplished year,
with the acclaim crisis and the rogue trading aspersion at SocGen,
Autonomy absolutely has been the aggregation that can absolutely
accommodated companies' requirements to actual bound plan out if
something is traveling wrong."
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