Market Report - November 2003

RNS Number:9717S
London Stock Exchange Plc
08 December 2003

8 DECEMBER 2003

MONTHLY MARKET REPORT FOR NOVEMBER 2003



                   STRONG START FOR SETSmm; SPREADS NARROW BY

                                 40% ON AVERAGE

The first full month of trading on SETSmmTM, the London Stock Exchange's new
hybrid trading service, was completed in November.  The average number of trades
per day was 9,841, up 65 per cent on an average of 5,978 trades per day in
October 2003.  The average daily value represented by these trades was #383
million.  The average spreads for FTSE 250 stocks have improved by 40 per cent
since the start of the market on 3 November, from 178 basis points in October
2003 to 107 basis points in November 2003.



The number of trades on SETSTM, the Exchange's electronic order book also
increased, to 2.8 million in November 2003, a rise of 18 per cent on the number
of trades in November 2002.  The value traded on SETS during the month was #62.9
billion, up from #58.4 billion in November 2002.  The average daily number of
trades on SETS was 140,674, up from 113,122 in November 2002.



The total number of equity trades on the Exchange was 4.64 million in November
2003.  This is down one per cent from a total of 4.68 million equity trades in
November 2002.  The total value of shares traded in November 2003 was #316.3
billion, down from #361.7 billion in November 2002.



The number of UK equity trades on the market was up 13 per cent to 3.91 million
trades, compared with 3.46 million trades in November 2002.  There were 20
business days in November 2003 compared with 21 days in November 2002.



The number of trades in the covered warrant market increased to 4,268 trades in
November 2003, compared with 766 trades in November 2002, the first full month
of trading for the market.  The value of these trades was #35 million, compared
with #2.2 million in November 2002.



On the primary market, there were 18 new issues during November 2003, ten of
which were IPOs: two on the UK Main Market, one international company on the
Main Market and seven on AIM, raising #384.7 million between them.   This
compares with 13 new issues, of which 2 were IPOs, in November 2002.



For further information, please contact:



Tiffany Hardie-Evans                        Press Office   [phone]


Notes to editors:



*           About the London Stock Exchange:


The London Stock Exchange is one of the world's leading equity exchanges and a
leading provider of services that facilitate the raising of capital and the
trading of shares.



The London Stock Exchange is the most international equities exchange by trading
in the world and Europe's largest pool of liquidity.  By the end of 2002, the
market capitalisation of UK and international companies on its markets amounted
to #3.1 trillion, with #4.6 trillion of equity business transacted over the
year.



The London Stock Exchange is a Recognised Investment Exchange (RIE) under the
Financial Services and Markets Act 2000 and is supervised by the Financial
Services Authority.



*         SETS - the electronic order book.



It is now six years since the launch of SETS and the service continues to go
from strength to strength. Overall, the market is benefiting from tighter
spreads and greater liquidity. Usage of SETS continues to grow, as shown by
recent record increases in the number of orders entered, the number of firms
using the order book and order book share of business.



Indices are calculated and managed by FTSE Group, a world-leader in the creation
and management of global equity indices. The FTSE Group is jointly owned by the
London Stock Exchange and the Financial Times, but operates as a wholly
autonomous company.



For information about the company or any FTSE indices, please contact
[e-mail]



IPO - when a new company joins our market raising money.  This excludes
transfers and introductions (a company that joins a market without raising
money).



*       SETSmm



SETSmm is the Exchange's new trading service for FTSE 250 and other leading non
order book securities.  By combining the best features of the existing SETS and
SEAQ trading services, SETSmm appeals to market users who want to trade
electronically, as well as those customers who use the market making system.



*       Retail Trading Figures



Retail trading figures are available from our website at - http://
www.londonstockexchange.com/trading/retailtrade.asp

Figures are available from November 2002 to date.






LONDON STOCK EXCHANGE



MONTHLY FACTSHEET FIGURES



November 2003


                                                    2003                             2002
DOMESTIC EQUITY TRADING                        Month    Year to date            Month    Year to date

Equity Trading Value (#m)                    169,477       1,729,526          158,455       1,709,100
Number of Equity Trades                    3,907,572      42,498,937        3,460,525      34,696,459


INTERNATIONAL EQUITY TRADING

Equity Trading Value (#m)                    146,861       1,602,197          203,288       2,627,909
Number of Equity Trades                      733,581       9,144,667        1,218,146      14,157,215




ORDER BOOK TRADING

Order Book Value (#m)                            62,936         662,010           58,383         630,335
Order Book Trades                             2,813,470      30,225,715        2,375,552      21,865,186


                                                            November 2003            November 2002
DOMESTIC MARKET CAPITALISATION (#m)                                   1,334                       1,225

TOTAL NUMBER OF COMPANIES                                             2,682                       2,828
UK list                                                1,562                    1,710
Foreign                                                389                      420
AIM                                                    731                      698
of which techMARK                                      181                      213




                                                     2003                            2002
MONEY RAISED (#m)                               Month    Year to date          Month    Year to date

UK & AIM New Issues Equity                        267           2,281            153           5,204
Further, Rights and Other                         443           5,167            313          11,839
Bonds, Warrants, Fixed Interest                12,178         111,879          9,402          79,250
Int. New Issues Equity                            165           1,134              -               -
Further, Rights and Other                         303           5,192              -           5,455
Bonds, Warrants, Fixed Interest                 6,687          88,256          4,578          67,188


COMPANIES ADMITTED                                 18             159             13             211




                      This information is provided by RNS
            The company news service from the London Stock Exchange
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