FX.co ★ Cyber security stocks jump

Cyber security stocks rose sharply in the beginning of this week after the global ransomware attack on 12 May.
However, the British intelligence agencies claim cyber attacks can occur again. Experts estimate that about 1.3 million computer systems are still vulnerable to infection by WannaCry.
According to the National Cybersecurity Center, the virus is the creation of a criminal group but the details of the investigation remain classified.
With governments and companies expected to increase spending on IT security after being caught out by the attack, cybersecurity firms have seen their stock market values climb sharply over the past two days.
Investors suggest that many firms and government agencies will start buying up licenses for cyber security programs. "These attacks help focus the minds of chief technology officers across corporations to make sure security protocols are up to date, and you often see bookings growth at cyber security companies as a result," said Neil Campling, the head of technology research at Northern Trust.
So, at the London Stock Exchange, shares of Sophos, a security software and hardware company, jumped 8.5% to a record high. Cyber security NCC Group also has a rise of more than 3% in its share price. The stocks of F-Secure, the Finnish digital security firm, surged to a 16-year high on Monday.