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FTSE flat as Darktrace soars

by LLB Editor
18th Jul 23 11:35 am

After a decent showing on Wall Street last night, European markets were less enthusiastic with most of the major indices struggling to find direction. says

Danni Hewson, head of financial analysis at AJ Bell, said: “The FTSE 100 could only muster up a nine-point rise to 7,415 with strength in healthcare stocks offset by weakness in financials and real estate.

“After coming under fire from a short seller about the state of its finances, Darktrace called in EY to review its books. Today we’ve had the findings from the report and they’ve essentially proved that the cybersecurity expert doesn’t have any skeletons in the closet, sending its share price soaring. Yes, there is some work to do with improving systems and controls, but nothing that impacts previous financial statements. Investors breathed a huge sigh of relief.”

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