London markets dip as Darktrace continues to tumble

Cambridge-based cybersecurity firm Darktrace continued to tumble today, dragging London markets down with it.

The capital’s premier FTSE 100 index dipped 0.49 per cent to 7,347.91 points, while the mid-cap FTSE 250 lost 0.07 per cent, falling to 23,557.52 points.

Darktrace plunged over four per cent during morning exchanges, extended a brutal period for the cybersecurity firm’s share price.

Investors have sold off the stock in their droves recently due to concerns Darktrace’s c-suite may dump holdings in the company after the end of a lock-up period.

Pharmaceuticals giant Astra Zeneca was the worst performer on the FTSE 100, tumbling 6.81 per cent.

Luxury fashion retailer Burberry tempered losses on the premier index, climbing 4.03 per cent, while broadcaster ITV gained 1.34 per cent.

On the mid-cap FTSE 250, Marks and Spencer capped off a stunning week, adding nearly two per cent. The gains follow a surge in its share price after it hiked profit forecasts for the year this week,

The pound was up 0.31 per cent against the dollar at $1.3413.