TechMARK movers: Innovation jumps on bid

Innovation leapt to its highest since September last year after the property and insurance software group admitted it received a 16p-a-share bid in August.The company said the unsolicited approach from US outsourcing firm, EXL Service Holdings Inc, regarding a possible cash offer contained pre-conditions and assumptions, and undervalued the business."The approach was very preliminary in nature and, having discussed it with its advisers, Investec, at that time, the board decided to reject it on the basis that it materially undervalues the company," said Innovation today.It turned down a 15p-a-share expression of interest from CETP II Participations in March this year.Vernalis is also higher. The drug developer said today that it has initiated a pilot study of indantadol (V3381), a novel dual-acting NMDA antagonist & MAO inhibitor, in patients with chronic cough. V3381 has already completed a Phase IIa trial in patients with neuropathic pain and a second study in this indication has just achieved full recruitment. FTSE TechMARK - RisersNXT (NTX) 16.00p +14.29%Innovation Group (TIG) 12.75p +13.33%Network Technology (NTY) 2,850.00p +7.55%Corin Group (CRG) 89.00p +6.59%Biocompatibles International (BII) 211.00p +6.57%AEA Technology (AAT) 28.00p +5.66%Wolfson Microelectronics (WLF) 128.75p +5.10%Vernalis (VER) 93.00p +3.33%Torotrak (TRK) 26.25p +2.94%Anite Group (AIE) 35.00p +2.94%FTSE TechMARK - FallersE2V Technologies (E2V) 68.00p -4.56%Ark Therapeutics (AKT) 43.50p -3.33%Oxford Biomedica (OXB) 10.50p -2.33%Kofax (KFX) 150.00p -2.12%Kewill (KWL) 97.00p -1.77%Morse (MOR) 31.00p -1.59%NCC Group (NCC) 378.00p -1.50%Antisoma (ASM) 35.25p -1.40%Intec Telecom (ITL) 97.25p -1.27%GB Group (GBG) 20.25p -1.22% Team Internet