|Bid||6,880.00 x 0|
|Ask||7,220.00 x 0|
|Day's range||6,890.00 - 7,214.00|
|52-week range||1,656.00 - 7,922.00|
|Beta (5Y Monthly)||0.56|
|PE ratio (TTM)||52.81|
|Forward dividend & yield||0.40 (0.58%)|
|1y target est||N/A|
The London Stock Exchange Group is to tackle underperformance at its trading technology subsidiary with a shake-up that will see the departure of the group’s chief operating officer. The exchange is set to reshuffle top management in a bid to turn around the unit, which supplies technology to other exchanges and electronic marketplaces around the world, according to two sources with knowledge of the plans. It will replace Chris Corrado, who also doubles as the LSE’s chief information officer, with Anthony McCarthy, the chief information officer of its LCH clearing house, the people said.
The London Stock Exchange published a consultation paper on Tuesday asking market participants if they wanted shorter trading hours to help improve staff diversity and the mental wellbeing of traders. The consultation paper sought feedback on five options: four covering shorter hours, and a fifth on making no changes to the trading day that currently starts at 0800 local time (0700 GMT in summer) and ends at 1630. It also proposes cutting the number of "auctions" during the trading day from five to three.
China's dominance in widely followed emerging market benchmarks has investors worried about concentrated risks, fuelling demand for indexes that limit their exposure to mainland companies. Global index provider MSCI's latest round of China stock inclusion, completed on Wednesday, took Chinese equities to 34% of the MSCI Emerging Markets Index, bigger than the combined weight of the bottom 21 country components. China's weight in the FTSE Emerging Index stands at 35%, and will grow to roughly 37% by March.
London Stock Exchange shareholders overwhelmingly backed the exchange's $27 billion takeover of data and analytics company Refinitiv on Tuesday, a deal designed to broaden LSE's trading business and make it a major distributor of market data. LSE Chairman Don Robert told a shareholders meeting in London that the exchange's board was unanimous in recommending the Refinitiv deal because it was a "compelling opportunity" in the best interests of shareholders and the company. One shareholder asked whether the LSE was simply bulking up to avoid becoming a future takeover target.
London Stock Exchange shareholders overwhelmingly backed the exchange's $27 billion (£21 billion) takeover of data and analytics company Refinitiv on Tuesday, a deal designed to broaden LSE's trading business and make it a major distributor of market data. LSE Chairman Don Robert told a shareholders meeting in London that the exchange's board was unanimous in recommending the Refinitiv deal because it was a "compelling opportunity" in the best interests of shareholders and the company. One shareholder asked whether the LSE was simply bulking up to avoid becoming a future takeover target.
Hong Kong's stock exchange operator said quarterly profit dropped 8%, the steepest slide in nearly three years, as investor sentiment was hit by months of political unrest that pushed the Asian financial hub into recession. Hong Kong's Hang Seng index declined 8.6% during the quarter to end-September, marking its worst quarter in four years. While Hong Kong's pro-democracy protests show no signs of abating, the exchange's earnings could be bolstered by a pick up in IPOs in the fourth quarter.
Hong Kong Exchanges and Clearing Ltd (HKEX), the stock exchange operator in the Asian financial hub, on Wednesday posted an 8% drop in third-quarter profit, as a surge in listing fee failed to offset the slide in income from trading. HKEX, which scrapped its surprise $39 billion approach for the London Stock Exchange Group in October, reported a net profit of HK$2.2 billion ($280.87 million), down from HK$2.4 billion a year ago, the company said in a statement. Market sentiment in Hong Kong, which was earlier hit by the Sino-U.S. trade war and months of often violent protests in the city, has started to pick up recently on the back of a series of large IPOs.
Italy's parliament on Thursday gave its initial approval to a decree granting the government powers to protect 5G telecoms networks and Milan's Borsa Italiana stock exchange from foreign takeovers. Non-European Union players will be required to notify Rome of any takeover intentions or plans to acquire controlling stakes in key financial infrastructures. Regarding fifth-generation (5G) telecoms, the measures aim to give the government protective powers over 5G supply deals between domestic firms and non-EU providers such as China's Huawei and ZTE Corporation.
Oscar-winning special effects firm DNEG said on Tuesday it plans to list on the London Stock Exchange in November, raising 150 million pounds through the issue of new shares, to accelerate growth. The company, which produces digital visual effects and has worked on the Harry Potter films and the Avenger series, is looking to sell at least 25% of new and existing shares. The listing is also aimed to increase the public profile of the company, provide access to a wider range of capital-raising options and improve its ability to recruit, DNEG said in a statement.
London Stock Exchange has given assurances to Italy that it plans to continue investing in its Italian trading platforms and does not intend to move them out of the country, a Bank of Italy source told Reuters on Thursday. LSE Group owns Italian stock exchange Borsa Italiana, which in turn controls the MTS platform on which Italian government bonds are traded. The Bank of Italy source was responding to a Reuters story that said LSE was considering shutting down a bond trading platform called BondVision and moving the management functions of Italian securities' clearing operations from Milan to London.
Share mover headlines - courtesy of share market operators themselves on Tuesday (October 8)... The London Stock Exchange - down over six per cent... And the Hong Kong bourse - up over two per cent... On news that the latter has pulled the plug on its 39 billion dollar bid for the former. Its boss Charles Li indicated his team had been unable to engage with LSE management. The London bourse didn't comment. Analysts had viewed the chance of success as slim. The LSE would have had to drop its 27 billion dollar plan to buy data and analytics firm Refinitiv as a precondition of the deal. As for the Hong Kong exchange: local political turmoil - and the government's influence as the main shareholder - were also seen as obstacles. And - with its shares down 8 per cent since it made its original offer last month - putting in a higher offer could, say the analysts, have put too much strain on its finances. For the LSE, it's the latest failed mega-merger after multiple attempts at a tie-up with Deutsche Boerse over the last two decades. Its shares have risen more than 2,000 percent since it listed in 2001 ... reflecting its attractiveness as a target.