Barclays Share News (BARC)

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* FTSE 100 down 1.2 pct

* Micro Focus plummets after CEO quits, revenue outlook cut

* Barclays rises after activist acquires voting rights

* Hammerson jumps after Klepierre approach

By Kit Rees

LONDON, March 19 (Reuters) - A plunge in Micro Focus' shareprice on a gloomy revenue outlook sent the UK's top share indexdown to a two-week low on Monday, with weakness incommodities-related sectors adding pressure.

Barclays jumped around 4 percent after activistinvestor Sherborne acquired 5 percent of voting rightsin the bank.

Investors have been putting pressure on Barclays to become aprofitable investment banking force. It has struggled due to lowvolatility and tougher regulations on capital requirements.

The blue-chip FTSE 100 index was down 1.2 percent at7,077.00 points by 1005 GMT as materials and energy stocks fellon the back of weaker metals and oil prices.

Shares in software company Micro Focus plummeted58.5 percent and it was on track for its biggest ever one-dayloss after its CEO quit and it cut its revenue outlook.

Micro Focus has had problems stemming from assets it boughtfrom Hewlett Packard Enterprise, on which it spent $8.8billion in 2017.

"Large acquisitions are inherently risky as they come withintegration challenges. Micro Focus appears to haveunderestimated these challenges and is now suffering," RussMould, investment director at AJ Bell, said.

Micro Focus fell around 17 percent back in January after adisappointing set of results and outlook.

Elsewhere British mid caps were down just 0.3percent, outperforming the broader European market, propped upby a 25 percent jump in Hammerson's shares.

Shares in the UK retail landlord rose following news that ithad been approached by French shopping centre operator Klepierreearlier in the month.

Hammerson rejected Klepierre's takeover bid, valued at 4.88billion pounds ($6.80 billion), saying it "very significantly"undervalued the company.

As Brexit uncertainties continue to weigh on UK stocks,overseas businesses have found cheaper UK companies attractivetakeover targets.

"It's pretty clear that large UK companies are being stakedout by potential overseas interest," Ken Odeluga, market analystat City Index, said.

"There's a bit of undervaluation creeping in because ofpotential threats around Brexit, real or imagined, and that canmake companies quite attractive, and then many are willingsellers because of the same reason," Odeluga added, pointing toCME's bid for NEX Group last week.

(Reporting by Kit Rees; Editing by Jon Boyle)