Arab Today, arab today london stock exchange predicts \strong\ results
Last Updated : GMT 05:27:22
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London Stock Exchange predicts \'strong\' results

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Arab Today, arab today London Stock Exchange predicts \'strong\' results

London - AFP

The London Stock Exchange Group forecast on Friday \"strong\" results for its 2011/2012 financial year, despite choppy financial markets. \"Continued good operational performance (is) underpinning expectations of strong results for the current financial year,\" the group said in a trading update. Total equity capital raised in the 11 months to the end of February slid to £34.6 billion, it added. That compared with £37.4 billion in the same part of the previous financial year. The LSE, which owns the London and Milan stock exchanges, added that it was boosted by Turquoise, an erstwhile competitor in European share trading that it acquired in 2009. The average daily value of UK equity trading fell by two percent during the reporting period. However, Italian volumes rose two percent -- and trading on Turquoise\'s equity platform increased by 54 percent. In May, the LSE will publish its annual results for the group\'s financial year which runs to the end of March. The LSE\'s latest results were issued amid a wave of consolidation in the global stock exchange sector. Earlier this month, the LSE agreed to buy a majority 60-percent stake in British clearing house LCH.Clearnet for 463 million euros in cash. Clearing houses play a key role in the transaction of shares between two parties, charging clients a fee to guarantee deals should one side default. Last year, LSE Group\'s plan to merge with the Toronto Stock Exchange collapsed after the pair failed to win the support of two-thirds of their shareholders.

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