|Bid||7,950.00 x 0|
|Ask||8,350.00 x 0|
|Day's range||7,972.00 - 8,232.00|
|52-week range||75.15 - 8,628.00|
|Beta (5Y monthly)||0.54|
|PE ratio (TTM)||67.99|
|Forward dividend & yield||1.00 (1.21%)|
|1y target est||4,810.83|
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.
The London Stock Exchange <LSE.L> 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.
France's top market regulator Robert Ophele has been appointed acting chair of the European Union's tougher system for deciding if foreign clearing houses can operate in the bloc, a sensitive issue for Britain after Brexit. Ophele is chair of France's markets watchdog AMF and will also from January be acting chair of the Paris-based European Securities and Markets Authority's (ESMA) new central counterparty supervisory committee.
SDIC, which was set to become the second Chinese company to make use of the Shanghai-London Stock Connect scheme, said it would not go ahead with the listing, blaming market conditions. The London market for listings, which was relatively resilient in the first half of the year, has had an extremely tough time of it since the summer, with Indian special effects firm DNEG and Kazakh finance firm <KASPI.KZ> pulling deals. Overall, the number of initial public offerings in London has halved this year so far, with just $4.82 billion of deals getting over the line - the lowest volume since 2009 in the aftermath of the financial crisis, according to Refinitiv data.
SOUNDBITE (ENGLISH): SAID TO BE LONDON BRIDGE ATTACKER USMAN KAHN IN 2008, SAYING: "I ain't no terrorist." That's Usman Khan in his own words from a 2008 BBC interview - more than a decade before Friday's attack on London Bridge which killed two people, and four years before his 2012 conviction for his role in an al-Qaeda inspired plot to blow up the London Stock Exchange. He was released early from prison a year ago. SOUNDBITE (ENGLISH): SAID TO BE LONDON BRIDGE ATTACKER USMAN KAHN IN 2008, SAYING: "I been born and bred in England, in Stoke-on-Trent in Cobridge, and the older community knows me. And if you ask them, they will know that these labels that they're putting on us like 'terrorist' - they all know - I ain't, I ain't no terrorist." The 28-year-old was killed by police Friday wearing a fake suicide vest after bystanders wrestled him to the ground. Word of his early prison release has set off a firestorm in the U.K. over parole, especially when it comes to those convicted of serious crimes.
The 28 year-old British man who killed two people in a stabbing spree on London Bridge had previously been convicted of terrorism offenses and was released from prison last year. Sporting a fake suicide vest and wielding knives, Usman Khan went on the rampage on Friday (November 29) afternoon at a rehabilitation conference in the area. He was wrestled to the ground by bystanders and then shot dead by police. Khan's family hails from Pakistan-controlled Kashmir. He was convicted in 2012 for his part in an al-Qaeda-inspired plot to blow up the London Stock Exchange. But was released in December 2018 - subject to conditions. Friday's attack, just 13 days before a general election, prompted political leaders to scale back campaigning. Their focus is likely to shift from Brexit and the health service to crime. (SOUNDBITE) (English) BRITISH PRIME MINISTER BORIS JOHNSON, SAYING: And my thanks go, first of all, to the emergency services, the police for their bravery and their professionalism. And to repeat again, my thanks to those members of the public who put themselves in harm's way to protect others. And I think they represent the best of our country and I thank them on behalf of the rest of our country." A video posted on Twitter showed police dragging one man off the suspect before an officer took careful aim. Later in the video, two shots ring out and the man stops moving. During the 2017 election campaign, London Bridge was the scene of another attack. Three militants drove a van into pedestrians and then targetting people in the surrounding area, killing eight. The incident focused attention on cuts to policing since the governing Conservatives took power in 2010.
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.