LSE making progress across the board as new issues rise

Stock exchange operator London Stock Exchange (LSE) said it has made ”good progress” over the course of 2014, with strong performances across all main business areas.

Some £41bn of equity capital was raised on LSE’s markets during the 11 months to 30 November, compared with £26.7bn the year before.

The period saw 193 new issues, up 38% from 140 previously, on the back of strong growth on the UK main market and Borsa Italiana, offsetting a more subdued performance for flotations on AIM.

A total of 2,753 companies now trade on LSE’s markets, up 1% on last year, and the group said that the new issue pipeline “remains encouraging”.

The total market capitalisation of LSE’s markets increased by 2% to £2,723bn. The UK main market accounts for £2,265bn of this, also up 2%.

The average daily equity value traded rose 12% in the UK, while volumes in Italy increased by 16%.

The company also expressed confidence in in its recent £1.6bn acquisition of US indices and investment management group Frank Russell.

Chief executive Xavier Rolet said he was “pleased to have recently completed the acquisition of Frank Russell Company and work is already well underway to integrate the Russell and FTSE indices operations to deliver significant cost and revenue benefits”.

He added: ”The group continues to develop, diversify and evolve. We now have strong market positions in a wide range of businesses and regions, including North America."