The hacking scandal at broadband provider TalkTalk has heightened interest in stocks and companies dealing in cyber security, with some fund managers betting on more growth in the sector. British police said on Friday that they had arrested a second teenager in connection with the breach at TalkTalk, which may have led to the theft of personal data from among the company’s more than 4 million customers.
TalkTalk was not the first such incident, but traders and investors said it should re-ignite interest in companies offering protection against hack attacks. Market research firm Gartner has estimated that global spending on IT security is set to increase 8.2 percent in 2015 to $77 billion. Corporations around the world will spend $101 billion on information security in 2018, Gartner says.
That has caught the attention of financial markets. The ISPY exchange-traded-fund, which lets investors hold a basket of cyber security stocks – such as Cisco Systems and Sophos Group – has risen around 3 percent. “As cyber crime continues to grow, governments and companies are prioritising cyber security as an essential investment. For the full article click here
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