Adobe shares rocket on Apple tool news

Adobe saw its share price jump the furthest in over 17 months today after Apple announced it was going to relax tool restrictions on the App Store.

Apple is not allowing Flash applications to run on its iPhone and iPad devices, yet there is a widely-held belief that Flash developers will have an easier ride converting their games to the iPhone’s Objective-C programming language.

On the news Adobe shares rose to $31.64 before midday.

Apple today said it is “relaxing all restrictions on the development tools used to create iOS apps” – on the proviso that the resulting apps do not download any additional code.

Develop is told Adobe is preparing a statement on Apple’s latest move.