THE London Stock Exchange group said this morning that a buoyant market for new London listings was not enough to stop volumes across its core equity capial markets business from falling.
LSE equity volumes fall as LCH takeover gets green light
28 March 2013 9:05am
LSE also confirmed that shareholders had approved its takeover of LCH Clearnet.
The company said shareholder meetings yesterday had given the nod for the exchange to acquire up to 55.5 per cent of LCH Clearnet shares, which it has wanted to buy for €328m (£276m) in cash to beef up the group's lucrative clearing and risk management business.
In a pre-close trading update today, the LSE also said that total equity capital raised on its markets for the 11 months to the end of February fell to £14.8bn from £32.4bn a year earlier.
However, issuance had picked up since the third quarter amid an encouraging recovery in the London market for initial public offerings.