LSE revenues up one per cent
THE London Stock Exchange’s revenues rose by one percent in the first quarter of its financial year, reflecting mixed market conditions.
“Reflecting the breadth of the group’s activities, performance has been resilient in what have been mixed market conditions,” chief executive Xavier Rolet said in a statement.
The LSE said it expects conditions to remain mixed and that it would continue to focus on improving the efficiency of its business and its competitive position.
Share of UK cash equities trading increased during the three months to end June, the exchange said.
First-quarter revenues at the LSE stood at £158.2m, up one percent on the first quarter of last year and up three percent on the fourth quarter.
In May, the LSE had reported a 19 per cent drop in full-year earnings per share.
The LSE, along with other European exchanges, has been losing market share to low-cost alternative trading platforms since the European market was opened up to competition in 2007.