Love bug brings aid to tech security stocks

The so-called love bug has been wreaking havoc with computers across the globe

The so-called love bug has been wreaking havoc with computers across the globe. The virus, an attachment to an e-mail under the subject heading "I love you", is believed to be more virulent than last year's Melissa virus.

Ironically, one of the first systems to be brought down was that at the British houses of parliament at Westminster. Could it be that political judgment was blurred by the prospect of complimentary e-mails from constituents?

Still one group has been capitalising on the attack - computer security firms proved a hit with investors towards the end of the week as demand for their products rose.

"It's a knee-jerk reaction. It's like lemmings following each other over the cliff," said Davenport & Co analyst Drake Johnstone, whose company e-mail system was shut down by the Love Bug virus. Sounds like a very apt description of recent market activity in general.

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Dominic Coyle

Dominic Coyle

Dominic Coyle is Deputy Business Editor of The Irish Times