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April 26 London Stock Exchange Group
reported higher quarterly income as its clearing and FTSE
Russell index compiling businesses grew strongly, adding it was
exploring investments to drive growth after the collapse of its
proposed Deutsche Boerse merger.
Helped by weak sterling, LSE reported a 19 percent rise in
total income from continuing operations to 458.7 million pounds
($588.8 million) for the quarter ended March 31, while
comparable revenue was up 18 percent at 420.6 million pounds.
Analysts on an average had expected income of 448.5 million
pounds and revenue of 411.6 million pounds, according to a
The results come just under a month after EU regulators
blocked LSE's planned merger with Deutsche Boerse,
citing concerns over a potential monopoly in the processing of
The failure of LSE's third attempt to combine with Deutsche
Boerse has reignited speculation that an overseas exchange may
make a fresh bid for the British firm, with NYSE-owner ICE
having briefly expressed interest last year.
The industry has been trying to consolidate for years amid
weaker trading volumes and shrinking margins, but regulatory
concerns, along with nationalist wrangling, have hindered many
"The group has made a strong start to the year... We
continue to be actively engaged in exploring selective ongoing
organic and inorganic investments in order to drive further
growth," LSE Chief Executive Xavier Rolet said on Wednesday.
The company, which owns Borsa Italiana and the London Stock
Exchange, said it was well placed to benefit from the
introduction of MiFID II, new rules that are aimed to make
European securities markets more transparent.
LSE shares were up 0.76 percent at 3332 pence at 0713 GMT,
outperforming the FSTE 100 index, which was negative.
The stock was the third top bluechip gainer.
($1 = 0.7791 pounds)
(Reporting by Esha Vaish in Bengaluru; editing by Louise
Heavens and Keith Weir)