London Stock Exchange Group Plc Says UK Equity Trading Advances 5%

The shares of London Stock Exchange (LSE: LSE) gained 1p to 1,569p during early trade this morning after the company said the average daily value of UK equities traded on its exchange advanced 5%.

The FTSE 100 member confirmed the average daily value had climbed to £4.2bn — and the total value had gained 6% to £441bn — during the five months to August.

This morning’s update also revealed the London exchange had welcomed 58 new issues that had raised an aggregate £8.3bn on its home market, as well as five new issues raising £1bn on its Italian exchange.

Other statistics disclosed in the statement included MTS, the LSE’s fixed-income trading facility, enjoying money market trades up 14%, and LCH.Clearnet, the group’s clearing operation, boasting a notional $205tn clearing of interest rate swaps.

Xavier Rolet, the LSE’s chief executive, said:

The Group continues to make good progress, with good operational performance in particular at FTSE, in primary markets, fixed income and in OTC clearing at LCH.Clearnet.” 

We are well positioned in a wide range of businesses, and in a number of growth markets, and remain firmly focused on the execution of our strategy.

Prior to today, City brokers expected the LSE’s current-year earnings to climb 3% to 103p per share and the annual dividend to be lifted 1.5p to 31p per share.

Following this morning’s price movement, the LSE’s shares trade at 15.2 times possible profits and may also yield a potential 2%.

Of course, whether that valuation, today's market statistics and the general prospects for stock market operators all currently combine to make the LSE a 'buy' right now is something only you can decide.

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> Maynard does not own any share mentioned in this article.