|Bid||8,396.00 x 0|
|Ask||8,398.00 x 0|
|Day's range||8,242.00 - 8,526.00|
|52-week range||75.15 - 8,628.00|
|Beta (5Y monthly)||0.54|
|PE ratio (TTM)||71.13|
|Forward dividend & yield||1.00 (1.20%)|
|1y target est||4,810.83|
Britain's future access to the European Union financial market must take into account how far it will diverge from the bloc's rules, a European Commission official said on Wednesday. After leaving the EU in January, Britain retains full access to the bloc until the end of 2020 under a transition deal with its former partners, with both blaming each other for missing an end of June deadline for assessments on access from 2021. Future access will depend on Brussels deciding that Britain's financial rules are and likely to remain equivalent to or sufficiently aligned with those in the bloc.
London Stock Exchange <LSE.L> index compiler FTSE Russell began publishing forward-looking interest rates on Monday, entering a four-way race for a new market opened up by the scrapping of Libor next year. Regulators want the London Interbank Offered Rate or Libor, which banks were fined for trying to rig, replaced with the Bank of England's Sonia rate for sterling denominated swaps, loans and futures by the end of 2021. FTSE Russell said its Term Sonia Reference Rates or TSRR will be published on an indicative basis for six months to allow potential users to track its performance first.
The London Stock Exchange Group’s $27bn acquisition of data provider Refinitiv faces a new hurdle after Singapore regulators said they would examine whether the deal threatens competition in the currency market. The Competition and Consumer Commission of Singapore said on Thursday that the blockbuster deal might curb access to fair and reasonable pricing for foreign exchange rates, as the regulator embarked on a review that could take 120 working days. Singapore’s intervention is a blow to the LSE, which plans to close the deal by the end of the year.
The London Stock Exchange on Thursday said it had appointed Anna Manz as chief financial officer from November, when the exchange hopes it will have obtained approval for its $27 billion takeover of data and analytics company Refinitiv. Manz, currently CFO and executive director of Johnson Matthey <JMAT.L>, succeeds David Warren, who said last year he would retire from the group. The LSE will know in October if the European Commission will approve its Refinitiv deal, and whether it will need to sell parts of the business to get the green light.
Nikhil Rathi, head of the London Stock Exchange's UK division, has been appointed chief executive of the Financial Conduct Authority (FCA), Britain's finance ministry said on Monday. Rathi, a former finance ministry official, will play a key role in helping Britain's financial sector to navigate its departure from the European Union, its biggest customer.
There is broad backing in stock markets for cutting the trading day by 90 minutes in a coordinated way across European exchanges, the London Stock Exchange said on Monday. The LSE published feedback from its public consultation on making trading hours more family-friendly to help recruit more women to trading desks and improve mental wellbeing. "There was also widespread consensus from respondents that any change to trading hours would ideally require a broadly aligned approach across European exchanges and other trading venues," the LSE said in a statement.
The London Stock Exchange on Wednesday formally asked the European Union's competition officials to approve its $27 billion takeover of data and analytics company Refinitiv. The European Commission set a June 26 deadline for its decision, the notification said. It can clear the deal with or without conditions or open a four-month long investigation following the end of its preliminary review if it has serious concerns.
Troubled hospital operator NMC Health <NMC.L> said on Monday it requested its shares be delisted from the London Stock Exchange after they were suspended two months ago. Shares in the UAE-based company were suspended two months ago and it was placed into administration this month following an application form one of the company's biggest lenders, Abu Dhabi Commercial Bank <ADCB.AD>. "We are working at pace to ensure continuity of patient care, stability for staff and suppliers and financial security for NMC's operating companies," Richard Fleming, joint administrator of NMC Health and managing director of Alvarez & Marsal, said in a statement on NMC's behalf.
The London Stock Exchange said on Tuesday it was committed to completing its $27 billion takeover of data company Refinitiv in the second half of the year, with no plans to revise its savings targets for the deal as a deep recession beckons. "We still have a lot of confidence in the transaction, in the strategic rationale of the transaction," LSE Chief Executive David Schwimmer told analysts. The coronavirus pandemic is sending economies rapidly into deep recession, forcing many companies to furlough millions of staff and raise funds to stay afloat.
The exchange reported $110 billion of debt capital was raised on its venue in the first quarter, in 437 bond issuances, with deals struck by a range of corporate, sovereign and supranational entities. This compared with 264 bonds issued on the London Stock Exchange during the same period a year ago, raising $94 billion in debt capital.
The London Stock Exchange said on Thursday it was waiving registration fees for market makers to attract more liquidity in trading that has become volatile due to economic fallout from the coronavirus. "To help provide support to liquidity in stocks admitted to London Stock Exchange’s Main Market and AIM amidst volatile trading conditions, a three month waiver on registration fees for market makers has been applied until the end of June, 2020," the exchange said in a statement.
The London Stock Exchange said it would allow companies listed on its market to defer payment of dividends for up to 30 days due to coronavirus hitting markets. "As a result of market conditions and issuers implementing their contingency plans, the Exchange has received enquiries from issuers and their advisers regarding deferral or cancellation of their dividend payments," the LSE said in a statement to the market. "From today the Exchange will permit a deferral period of up to 30 business days for payment of a dividend, but no more than 60 business days after the record date."
The London Stock Exchange said it would back temporarily allowing companies to hold their annual general meetings (AGM) online this year due to the coronavirus pandemic. "London Stock Exchange is engaging with stakeholders on behalf of the issuers listed on its market as to whether the authorities should consider time limited exceptions for companies to have flexibility in how they conduct their AGMs during this period," the exchange said on Monday. The Chartered Governance Institute has published guidance on annual meetings during the epidemic, drawn up in conjunction with the Financial Reporting Council, which regulates auditors and corporate governance codes, and law firm Slaughter & May.
LONDON (Reuters) - - The London Stock Exchange Group said on Friday it would complete its $27 billion takeover of analytics company Refinitiv on time this year as it reported a rise in annual income driven by a jump in clearing activity. The exchange's chief executive David Schwimmer also said it was too early to assess the impact of the coronavirus epidemic on its global business, although like many companies it has imposed travel restrictions on some staff. Constructive "pre-notification" discussions with European Union competition regulators regarding the purchase of Refinitiv are underway, with Schwimmer saying he expects to submit a formal application in March for approval.
Britain's 1,100-year-old Royal Mint said on Monday it will launch an exchange-traded product this week backed by physical gold held in its vault in Wales, which will trade on the London Stock Exchange. The Royal Mint was forced in 2018 to freeze plans for a digital gold token after the UK government vetoed a proposal to have it trade on a cryptocurrency exchange, Reuters reported at the time.
Britain and the European Union must find a way to settle future differences over how Britain's huge finance industry can do business in the bloc without resorting to a "metaphorical punch-up," the next governor of the Bank of England said. Andrew Bailey said it would be surprising if Britain's financial sector was not deemed to be "equivalent" by the EU and able to do business in the bloc from the start of next year, when the current post-Brexit transition period ends. "You would want to have a mechanism to say OK, let's sit down and talk about what we're doing here," Bailey -- currently head of the Financial Conduct Authority regulator, who is due to replace Mark Carney as BoE governor on March 16 -- told lawmakers in the upper house of Britain's parliament.
Pan-European stock exchange Euronext <ENX.PA> said on Wednesday it would launch a public consultation next month on whether to shorten the trading day. "In each of our six markets, we will not only consult our direct members, but also upstream buy side and retail associations and the operators of post trade processes, clearing and settlement," Euronext said in an emailed statement. Euronext is "very sensitive" to the arguments around work-life balance in the City and the need to have greater participation of women in the industry, the exchange said.
Banks and asset managers called on Thursday for a one-year trial of a shorter trading day for European stock exchanges to make markets more efficient, lift volumes and attract more women. The Association for Financial Markets in Europe (AFME) banking lobby and the Investment Association (IA), which represent asset managers, said in a statement the London Stock Exchange trading day should be cut by 90 minutes to seven hours. "AFME and the IA would also support a 12-month pilot across all major European exchanges and trading venues in order to test market structure benefits and impacts," they added.
Smart meter provider Calisen confirmed on Thursday it will seek a listing on the London Stock Exchange next month, with a 300 million pounds ($391.08 million) share offer that could set a 1.5 billion valuation on the private equity-owned firm. The offering, which will comprise of new shares and existing shared owned by KKR and other manager investors, follows a weak year for equity capital raising in London, with IPOs falling to to their lowest level in a decade in 2019, Refinitiv data showed. The final offer price will be determined following a book-building process, with admission currently expected in February.
New European Union cross-border share trading platforms set up by the London Stock Exchange and rival Aquis ahead of Brexit have been mothballed due to limited demand. The LSE said there are no plans for the new Amsterdam offshoot of its Turquoise pan-European platform to start up next month, while Aquis, which set up a hub in Paris, said trading in euro shares would continue in London for now. The LSE, Aquis and Cboe Europe, the region's biggest cross-border share trading platform, created EU hubs in case their London operations get cut off from customers in the bloc after Brexit, which is now due to take place on January 31.
Assessing if UK-based derivatives clearing houses can get access to European Union investors after Brexit can be done by June, but a final decision will hinge on broader EU-UK trade negotiations, the EU's markets regulator said on Thursday. The London Stock Exchange's LCH unit clears the bulk of euro-denominated swaps contracts, which are widely used by companies and banks across the EU to hedge against adverse moves in interest rates. The comments from the European Securities and Markets Authority (ESMA) provide a clear sign that UK financial services will not automatically have access to the EU after Brexit, even if Britain maintains most EU rules.
HONG KONG/LONDON (Reuters) - China has temporarily blocked planned cross-border listings between the Shanghai and London stock exchanges because of political tensions with Britain, five sources told Reuters. Suspending the Shanghai-London Stock Connect scheme casts a shadow over the future of a project meant to build ties between Britain and China, help Chinese firms expand their investor base and give mainland investors access to UK-listed companies. The sources, who include public officials and people working on potential Shanghai-London deals, all said that politics was behind the suspension.
London Stock Exchange <LSE.L> does not plan to shed any assets after its deal with Refinitiv and considers its subsidiary Borsa Italiana strategic, LSE board member and Borsa Italiana CEO Raffaele Jerusalmi told newspaper Il Sole 24 Ore on Friday. Last month London Stock Exchange (LSE) agreed to buy data provider Refinitiv for $27 billion (£20.67 billion), triggering speculation about the possible sale of assets to gain antitrust approval and to fund the deal. One suitor possibly interested in Borsa Italiana could be European stock market operator Euronext <ENX.PA>, Italian newspapers speculated some weeks ago.
Swiss drugmaker Roche <ROG.S> won clearance from Britain's Competition and Markets Authority (CMA) on Monday for its planned $4.3 billion (3 billion pounds) takeover of gene therapy company Spark Therapeutics <ONCE.O>, while a similar U.S. review continues. Roche wants to buy U.S.-based Spark to gain a foothold in gene therapy as well as add to its portfolio against hemophilia A, where the Basel-based company already has the treatment Hemlibra that is due to surpass $1 billion sales this year. Competition authorities have been scrutinising the deal to ensure a Roche gene therapy-Hemlibra combination in the lucrative rare disease market would not give it an unfair advantage over rivals.