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BUZZ-Micro Focus: bottom of FTSE 100 after Investec downgrades

Reuters - UK Focus

** UK-based software company Micro Focus International (Frankfurt: M7Q4.F - news) shares down 1.6 pct, stock top pct loser on FTSE 100

** Investec (LSE: INVP.L - news) cuts rating on stock to "sell" from "hold", cuts PT to 1900p from 2150p

** "Concerns around integration challenges, performance of the underlying Micro Focus, size of cost out requirements and uncertainty over scale of future top-line declines have escalated" - Investec

** The recent results give no new financial details on the integration plan to add reassurance, Investec notes

** Micro Focus said earlier this month it expects revenues for the Group for 12 months ending Oct (Shenzhen: 000069.SZ - news) 2018 to decline by 2% to 4%

** Shares (Berlin: DI6.BE - news) of MCRO rose ~60 pct in 2017