Sony shares spike on back of Xbox One reveal

Sony shares spike on back of Xbox One reveal
Craig Chapple

By Craig Chapple

May 21st 2013 at 7:55PM

Microsoft's next-gen console unveiling sparks year-high share price jump at rival

Shares in Sony have spiked nearly ten per cent on the back of Microsoft's Xbox One reveal.

As listed on the NasDaq, shares are currently priced at $22.77, up from the previous close of $20.97.

The jump also represents figures at a year-high for Sony Corporation before close, reaching as high as $22.98.

The jump would appears to show that the market currently has more confidence in the PS4 than it does in the Xbox One, shortly after the latter console's reveal.

After the reveal, Microsoft shares went down slightly by 0.47 per cent, although small moves can be quite a common occurrence on the stock market.

It should be noted that rising and falling share prices could again change overtime, with the launch of the PS4 and Xbox One still at least six months awaym meaning a lot could change between now and then.

Microsoft is also expected to announce many more details, including game announcements, at next  month's E3 conference.