Aveva hit by Goldman sell advice Should the price of crude - which has tumbled this year - remain at depressed levels, oil companies could cut capital expenditure by between 10pc and 20pc, they forecast. Oil capex spending is highly correlated with Aveva's revenue growth and despite the September profit warning and share price fall, we believe estimate risk remains to the downside as end-market headwinds may be beyond the company's control. The Goldman analysts advised offloading Aveva shares even though they acknowledged that Aveva was a potential takeover target. The group is a "premier strategic asset" in a software sector experiencing "ongoing consolidation," the analysts said. Still, Aveva was not alone in starting the new week on the back foot. The wider market also came under pressure, with the FTSE 100 sliding 58.5 points, or 0.9pc, to 6,487.97 and the second-tier FTSE 250 declining 48.22 to 15,453.15. Traders said a retreat was to be expected given the London market enjoyed strong gains last week. Banking shares were among the day's heaviest blue-chip fallers. HSBC missed forecasts for quarterly results and lost 11.6p to 627.9p. Royal Bank of Scotland, 7.8p lower at 380.2p, fell after Investec analyst Ian Gordon advised selling the shares following a 6.2pc surge on Friday, when the Bank of England announced capital rules that were less stringent than had been expected. "It is true that RBS is, by far, the top performing UK bank year-to-date," Mr Gordon said. However it has regularly offered clear, short-term, selling opportunities throughout the year and we believe that the strength of Friday's euphoria has just presented another one. Events group UBM was another faller, sliding 4½p to 564½p after failing to impress with a strategy update, in which the company outlined plans to concentrate on its "largest and most profitable shows." Peel Hunt analyst Malcolm Morgan noted that "in emphasising the medium-term ambition... there is inevitably a short-term cost [of] reduced revenue and additional operating expense." Troubled oil producer Afren slipped a further 2.1p to 75.15p, having plunged last week when it revealed it may have to restate past accounts following the dismissal of its chief executive and other management over a payments scandal. Afren is rebuilding its management team after chief executive Osman Shahenshah was dismissed Rival Nigerian firm SAPetro has recently built a 7.1pc stake in Afren, rapidly becoming its biggest shareholder, and may play a key role in the FTSE 250 company's future. "The [Afren] board now has two broad routes to pursue, not mutually exclusive," UBS analyst Daniel Ekstein said on Monday. One is to rebuild its management team and restore market confidence. The other is to assess whether its underlying assets might be worth more in the hands of other industry participants. SAPetro's stake building... is interesting in both respects. Staying with the losers, Jet2.com owner Dart Group plunged 31½p to 229½p after disclosing that it had set aside £17m to cover the cost of historical compensation claims in the wake of its defeat in a landmark legal case last week. A passenger had sought compensation after his family's Jet2 flight was delayed for 27 hours in 2011, but Dart had argued it did not need to pay out because the delay was caused by a technical defect, which it claimed was an "extraordinary circumstance." However, the Supreme Court rejected an appeal by Dart, a ruling that could cost it between £3m and £5m every year from now on, the group said. Given the ruling applies to the entire travel industry, the repercussions are likely to be widely felt. Nevertheless, news of the Dart provisions was shrugged off by investors in other airlines, who were instead cheered by Irish carrier Ryanair, which lifted its forecast for full-year profits. The upgrade buoyed sentiment towards easyJet, 40p higher at £15.40, and International Airlines Group, 5.1p better at 414.3p. Shares in internet-focused businesses rose sharply, with Ocado jumping 25.6p to 274.3p, AO World climbing 14.3p to 180.2p and Asos up 91p at £27.47. One theory floated to explain the moves was that a fund shorting the trio was covering its position. There was also speculation the companies are presenting at a fund manager conference next week and that investors were buying ahead of the event.