London Stock Exchange ups revenues in turbulent quarter
Total income in the third quarter, excluding recoveries, was up 16.2% on a reported basis
Company
LON:LSEG
The London Stock Exchange provides services to trading, the delivery of trading systems, the organisation and regulation of markets in securities and the provision of associated information services
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Total income in the third quarter, excluding recoveries, was up 16.2% on a reported basis
Just £3mln raised through IPOs in the third quarter of 2022, compared to £468mln a year earlier.
The stock exchange grew its income by 24% in the first half following last year's purchase of Refinitiv
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Britain's benchmark of blue-chip shares closed down around 8 points, or 0.11%, at 7,439
LSEG's shares have sunk more than 20% since early April
Will traditional defensive sectors provide the same protection or will things be different?
Results from companies large and small were delayed by over an hour and a half
London Stock Exchange Group agreed to acquire Quantile Group in December 2021 and had made concessions to alleviate the CMA's competition concerns
The sale of BETA+ to Motive Partners and Clearlake Capital by the LSE group repositions its data and analytics business, which will now target mid-single digit annual revenue growth
All "Russian stocks", which trade financial instruments in London, have now been suspended
Shares up nearly 10% as group grow underlying earnings 8.3%
"We have not seen a significant change in the company's approach to information disclosure," UBS grumbled
Firms will be required to publish regular updates on how they are planning to become more environmentally friendly
At the AGM in April, over 23% of LSE shareholders voted against David Schwimmer's salary boost
Junior market AIM saw 20 companies list during the period
Total income was up 7.6% year-on-year on a proforma basis and gross profit was 7.3% higher
In a statement, the exchange said other services had not been affected
Companies tend to prefer EBITDA to pre-tax profit but the FRC would like to see them give at least equal prominence in the presentation of results.
Much of the Refinitiv business is the old Reuters trading terminal business. Reuters got its start by making use of cutting edge technology - homing pigeons - but has arguably fallen behind on the technology front
Revenues grew 4.8% in the data division, while capital markets were up 9.6%, helped by the largest number of IPOs in seven years