London Stock Exchange sees volumes down

The London Stock Exchange (LSE) said that a resurgent market for new listings was not enough to stop volumes across its core equity capital markets businesses from falling.

LSE announced yesterday that it had been granted approval to acquire up to 55.5 percent of LCH.Clearnet shares, which it has wanted to buy for €328m (£276m) in cash to bolster the group's clearing and risk management business.

In a pre-close trading update, the LSE also said that total equity capital raised on its markets for the 11 months to 28 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.

The average daily UK equity value traded was down 15 per cent, while clearing volumes fell in line with trading levels, it said.

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