Invensys rockets on rail disposal and cash return

Shares in technology group Invensys rocketed on Wednesday afternoon after the firm announced that it is to sell its rail division to Siemens, pay down its pension deficit and return a ton of cash to shareholders.

Shares in technology group Invensys rocketed on Wednesday afternoon after the firm announced that it is to sell its rail division to Siemens, pay down its pension deficit and return a ton of cash to shareholders.

The stock, which traded broadly flat for most of the session, was up 27.10% at 280p by the close of trade.

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