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LONDON (dpa-AFX) – The London Stock Exchange benefited from good business with data and in securities trading in the first quarter. Total revenues rose 3.9 percent year-on-year on a constant currency basis to 1.68 billion pounds sterling (around 1.93 billion euros), according to the London Stock Exchange (LSE) (LSE) on Wednesday announced in London.
Including currency effects, sales fell by 1.2 percent, which was mainly due to the weakness of the US dollar. Sales were also negatively impacted by a one-off effect in connection with the Refinitiv takeover. The company did not provide any information on net profit.
The rival of the Frankfurt market operator Deutsche Börse completed the multi-billion dollar takeover of the financial data provider Refinitiv. Integration was on the right track, it was now said. LSE expects a lot from the acquisition in strategic and financial terms. The separation from Borsa Italiana in the course of the Refinitiv takeover is also making good progress, it said. The London Stock Exchange had sold the Italian subsidiary to the Euronext multi-country exchange and expects the transaction to be completed shortly in the second quarter.
CEO David Schwimmer was satisfied with the first quarter of the year and spoke of “strong results in all areas”. The LSE is making good progress in implementing its cost-cutting plan and has already saved £ 40million through synergies, said the manager, who sees good growth prospects for the London Stock Exchange from the Refinitiv takeover./eas/tav/fba