I risultati dell'LSE

LONDON STOCK EXCHANGE MAY SAY FULL-YEAR PROFIT
DECLINED

May 20 (Bloomberg) -- London Stock Exchange Group Plc, Europe's biggest exchange by value of listed stocks, may report full-year profit fell 22 percent on
slower trading, increased competition and charges for acquisitions and cost cuts.
Operating profit for the year ended March 2010 probably dropped to 263.9 million pounds ($376.8 million) from 338.6 million pounds a year earlier,
according to the mean estimate of 18 analysts collated by LSE. The exchange will report earnings at 7:00 a.m. London time tomorrow.
On March 23, LSE's share of FTSE 100 Index stock transactions fell below 50 percent for the first time in intraday trading as Europe's oldest independent
bourse lost more ground to alternative trading systems such as Bats Europe and Chi-X Europe Ltd.
The value of trading has also declined after the worst financial crisis since the Great Depression.
LSE Chief Executive Officer Xavier Rolet Rolet, who started in May last year, is attempting to stem the losses by moving the exchange onto a new trading
system, changing LSE's fees and looking to diversify into new markets. LSE bought Turquoise, the alternative trading system set up by its biggest
customers while Clara Furse ran the exchange.
Sales Decline Revenue for fiscal 2010 dropped to 619.3 million pounds from 671.4 million pounds, according to the average estimate. Adjusted earnings per share slipped to 58.9 pence from 74.2 pence while the dividend rose to 25.1 pence from 24.4 pence, the survey showed.
The total number of trades on LSE's markets for the 11 months ended Feb. 28 fell 15 percent to 195.4 million from the year-earlier period, LSE said March
25. The value of transactions dropped 28 percent to 1.65 billion pounds and the number of new issues fell 45 percent to 87. Net income for the first-half ended Sept. 30 declined to 49.3 million pounds from 81.7 million pounds in the comparable period a year ago, the exchange said in November. LSE said it has a 31 million-pound cost for the acquisition of MillenniumIT, a Sri Lankan trading
technology company, with 20.4 million pounds of that taken in the fiscal first half.
"The LSE is an ongoing turnaround story," said Sarah Spikes, financial services analyst at Arden Partners Plc in London. "There is potential for increasing market share in the U.K., diversification, and cost cutting. The downside is limited because it would be an attractive takeover target for international exchanges." Spikes has a "buy" rating on the stock.

fonte Bloomberg