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Micro Focus leaps on upgrade

Although analysts say its underlying business is actually declining
November 14, 2007

Micro Focus's shares leapt on a confident trading statement, with its recovering North American business showing "strong momentum".

IC TIP: Sell at 322p

Analysts at Jefferies note that the $8.5m (£4.1m) sales upgrade is largely due to currency translation benefits and improvements from acquisitions, with the underlying business actually declining.