Britain's main share index climbed to a new record high on Monday, fueled by oil and mining stocks, and cybersecurity firm Sophos jumped after a ransomware attack hit companies, hospitals and schools around the world.
Britain’s main share index climbed to a new record high on Monday, fueled by oil and mining stocks, and cybersecurity firm Sophos jumped after a ransomware attack hit companies, hospitals and schools around the world. The FTSE 100 was up 0.2 percent at 7,446.84 points by 0920 GMT, having hit a fresh high of 7,460.20 points at the open. Mid-cap cybersecurity services firm Sophos jumped 6.9 percent, hitting a new record high, after a global ransomware attack hit companies, hospitals and schools around the world.
“Sophos have a really strong position in the small and medium business sector, and ransomware often targets them as they tend to have the least sophisticated systems in place,” said Neil Campling, technology analyst at Northern Trust.
“With the world that’s more digital, these attacks become more sophisticated and more prevalent,” he added. Small-cap security firm NCC Group also rose 2.7 percent. Oil majors BP and Royal Dutch Shell rose in concert with European peers as crude prices jumped to $52 a barrel after Russia and Saudi Arabia said supply cuts needed to last into 2018.
Miners Anglo American, Glencore, BHP Billiton and Antofagasta were the top boosts to the index, up 1.3 to 2 percent. Europe’s largest tour operator TUI Group fell as much as 5 percent after it said “challenging” conditions had driven it to a wider loss in its second quarter.
The company maintained full-year targets, however, saying travel to Spain, Greece and the Caribbean was offsetting a slowdown in Turkey and North Africa. Its summer trading was in line with expectations. “The targeted 10%+ annual underlying earnings growth looks assured, but we worry about the increasing capital intensity required to generate said growth,” said Panmure Gordon analyst Mark Irvine-Fortescue.
Retailers Marks & Spencer and Next also fell 1.5 to 2.2 percent. Mid-cap crematorium operator Dignity jumped more than 7 percent, on course for its best day in two months after a positive trading update.
The small caps index also scaled a fresh record high, up 0.2 percent with semiconductor maker Nanoco Group the top gainer, up 7 percent. Miner Lonmin meanwhile fell 8 percent after reporting an operating loss for its first-half, hit by higher costs and lower production.