London Stock Exchange sees capital leap 91%

 

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The Independent Online

A wave of IPOs and rights issues saw the London Stock Exchange enjoy a strong final quarter to the year which ends next Monday.

Chief executive Xavier Rolet said: “The group is seeing good performance across our businesses in the final quarter. 

"Both primary and secondary market activity levels have increased over the past year, with improvements in capital markets also feeding through to our post-trade businesses."

The scale of the improvement in the stock market since the start of the year is signalled by the fact that while average trading values in the UK are up 8 per cent in the 11 months to February they were up 23 per cent in the latest three months.

Total money raised on the LSE in the 11 months is up by 91 per cent to £28.3 billion.

There were 162 new issues, up from 107 in the previous year, and Rolet said there were “continuing good signs” of further share issues ahead.

The recent acquisition of LCH. Clearnet has also proved successful, with clearing volumes up 17 per cent year on year, with $8.8 trillion (£5.5 trillion) cleared in February alone.

Rolet said that “good progress continues to be made on integration.”

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