Analyst Views: What did you think of yesterday’s results?
DANIEL GARROD | BARCLAYS
The tone of the release is positive, particularly on improvement in primary and secondary cash equity volumes. Yield on secondary equities is highlighted as having come down as would be expected, but nevertheless we believe the net result is positive.
PHILIP MIDDLETON | BANK OF AMERICA MERRILL LYNCH
The company reports good performance across the business in the quarter. On the other hand in the mass of figures announced, a couple are modestly negative. SETS yield has fallen in the fourth quarter. We think this reflects increased volumes, and won’t change our numbers noticeably.
PETER LENARDOS | RBC CAPITAL MARKETS
The statement shows solid organic growth, but also contains some offsets to that growth, mainly revenue yield reductions and net treasury income declines. LSEG remains a story of organic and regulatory growth, but this statement should do little to encourage further share price gains.