London Stock Exchange Share Discussion Threads

[broadwood] 09/10/2015 13:20

Shares in London Stock Exchange have fallen back in a rising market, on disappointment at the price it will receive for the disposal of its Russell Investments business.

It will sell the asset management operation, part of the Frank Russell group it bought last year, to US private equity group TA Associates for $1.15bn (£752m), with net proceeds of around $920m (£601m). The division had been up for sale since February, during which time LSE shares have risen almost 3%. But following the disposal news, they are down 15p at £24.36. Analysts at Numis said:



Although the gross figure is in line with what we estimate LSE originally paid for it late last year ($1.1bn), the net value is around 35% below what we are currently valuing it at ($1.4bn) and well below the figures that were being rumoured in the press (up to $1.8bn).

Despite the price not being as high as it could have been, we believe this is a positive development for the group at it allows management to focus on delivering its targeted growth strategy and achieving the expected cost synergies. The proceeds from this transaction (expected to complete in the first half of 2016) will be used to reduce LSE’s pro-forma net debt to EBITDA to 1.6 times, bringing it in line with management’s target of 1.0 times -2.0 times. We maintain our hold recommendation but our target price decreases to 2,450p from 2,500p reflecting the lower than expected sale price.

Credit Suisse kept an outperform rating on LSE shares:



While the net sale proceeds of $920m are modestly below the low end of consensus expectations ($1.0-1.5bn), we think the deal represents the best balance between maximizing shareholder value and minimizing execution risk. We believe it was imperative for LSE to conclude a deal swiftly following press reports that attempts to sell the business to other parties had stalled

[elcapital] 15/9/2015 08:40

Looks like I may have called that wrong......thirty seven million quid for proquote and pulse....i dont know the breakdown of those numbers though

[elcapital] 15/9/2015 08:36

Not surprised they havent disclosed the price they have sold Proquote for. I reckon just a million or two, and no where near the eleven they bought it for.

[broadwood] 13/8/2015 11:38

Clawing back.

[broadwood] 05/8/2015 13:32

Obviously no ADVFN punters own LSE.

Difficult to see why.

[broadwood] 05/8/2015 08:43

Solid.

The Group has made a good start to the financial year. We remain focused on achieving the cost synergies and revenue benefits from the integration of FTSE and Russell. We will also continue to invest in a wide range of growth initiatives across the Group, including the opportunities highlighted in Post Trade operations, as well as the cost reduction programme at LCH.Clearnet. Looking ahead, we remain well positioned as a leading international, open access market infrastructure business.

[broadwood] 10/7/2015 16:13

Nice lift today.

[lanesboro] 28/5/2015 10:36

the lse site is focussed on insider trading

[broadwood] 29/4/2015 08:16

A strong performance at its FTSE information services arm boosted revenues at the London Stock Exchange Group (LSE) at the start of the year.
The exchange operator and financial data provider saw revenues increase by 86% to reach £581m in the first quarter, following the purchase of Russell Indexes and Rusell Investment Management. Income was boosted in a similar proportion, rising by 79% to hit £602.5m.

Excluding Russell Investment Management, income increased 6%.

The information services unit saw sales improve by 5% on an organic and constant currency basis, with its FTSE unit putting in a strong performance, with revenues up by 12%.

Capital markets revenues grew by 2%.

The integration of Russell Indexes is "making excellent" progress, the company said in a regulatory statement.

In parallel, the sale of Russell Investment Management is on track, with a good number of indications of interest received.

Regarding the outlook for the business, LSE said: The Group has made a good start to the year and is well placed to deliver benefits from continued positive market trends and from the work to develop further revenue and efficiency opportunities. We remain confident that the Group will continue to develop and grow

[broadwood] 29/4/2015 07:15

Good update - should progress further from here.

[broadwood] 27/3/2015 15:21

Recovering nicely from that stake sale.

[dt1010] 26/3/2015 10:27

I have bought £30k worth at 23.20

[broadwood] 05/3/2015 10:05

A buoyant IPO market boosted profits at the London Stock Exchange (LON:LSE) in 2014.

Adjusted profit before tax rose by 19% to £492mln following the most new issues in the last seven years.

Overall sales for the group jumped 32% to £1.28bn and revenues in its capital markets division, the unit responsible for handling listings, increased by 12% to £333mln.

Last year the business welcomed 219 new firms, large and small, to its markets in London and Italy, the most since 2007 while the total value rose to £12bn, up 12%.

AIM listings reached an 8 year high with 75 IPO transactions with a combined value of £2.5bn.

LSE’s primary markets revenue was up 14% while higher equity and fixed income trading volumes resulted in an increase of 11% in secondary market revenue.

"The group has delivered another strong financial performance, with organic growth in all business areas and contribution from acquisitions,” said chief executive Xavier Rolet.

The exchange, which owns the FTSE Group, the operator of indexes including the FTSE 100, is in talks to sell the Russell Investment Management business it acquired as part of last year’s US$2.7bn purchase of the Frank Russell Company.

Shares added 4p to 2,403p.

[broadwood] 05/3/2015 08:09

The London Stock Exchange saw revenues rise by 32% to £1.28bn in the last financial year, with organic revenues higher by 12% on an organic and constant currency basis.
On an adjusted basis profits before tax improved 19% to hit £491.7m. For the full-year the company has proposed a final dividend of 12.8%, an improvement of 6.5% on an equivalent basis

[broadwood] 05/3/2015 07:44

Encouraging - lets see what the market thinks.

Group Plc (LSE.L) reported a 19 percent jump in adjusted full-year pretax profit, helped by a flurry of stock market listings last year, its busiest for initial public offerings in seven years.

[cat] 24/11/2014 10:28

Massive breakout
£48 target 18m

[broadwood] 24/11/2014 08:05

Citigroup London Stock Exchange Group PLC 24/11/2014
Upgrades
Neutral Buy
2
1,750.00 2,400.00 2,103.00
650

2

[broadwood] 13/11/2014 07:25

London Stock Exchange revenues up

[sirshagalot] 03/10/2014 12:17

chart showing weakness share price will drop

dyor

[broadwood] 10/9/2014 07:34

Since the last update on trading on 22 August 2014, trends are broadly unchanged. The Group has continued to see an encouraging pipeline of companies seeking to raise capital on the Group's markets and aggregate revenues from trading in secondary markets in August increased on the same period last year. Both FTSE and LCH.Clearnet performed well in August.
The Group expects to announce its Interim results for the six months ending 30 September 2014 on 13 November 2014

[broadwood] 27/8/2014 16:03

Held its modest gains so far today despite that upcoming rights
issue. Augers well.