Cyber Security Stocks Boom

The ransomware attack that disrupted the NHS and businesses around the world has led to a boom in share prices of cybersecurity companies – including the firm used by the health service to protect it against hackers.

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.

Shares in Sophos, a cloud network security specialist which counts the NHS among its clients, have jumped by about 8%. Meanwhile, NCC group added 5% to its share valuation and cyber consultancy group ECSC surged 42%. ISE, a fund invested in cybersecurity businesses, added nearly 4%.

The surge has been put down to the attacks refocusing businesses on the need for adequate cybersecurity.