Rise in floats and LCH.Clearnet boost London Stock Exchange

Marion Dakers
THE LONDON Stock Exchange Group is enjoying a market bounce at home and abroad, with revenue boosted by its recent purchase of the LCH.Clearnet clearing house.

Chief executive Xavier Rolet said yesterday a spate of companies listing in London will add further fuel to the British economy.

“The firms that are listing on our markets will filter through to job creation. And we don’t have a crystal ball, but looking at the way the UK government has smartly started to recalibrate the funding system for businesses away from debt – these companies are the ones creating innovation-driven jobs,” he told City A.M.

He said the exchange is “working flat out” on the first float of the LSE’s High Growth Segment.

The group posted a 44 per cent jump in half-year revenues to £504.2m, or a rise of eight per cent excluding LCH.Clearnet. Operating profit fell 19 per cent to £151m, in part due to integration costs, and the firm said underlying profit was up six per cent.