(Alliance News) - London Stock Exchange Group PLC on Friday posted an improvement in its earnings for the third quarter of 2020 as it noted "good progress" on the proposed acquisition of Refinitiv.
For the three months ended September, revenue climbed 1% year-on-year to GBP524 million. Total income, including its CCP business, climbed 2% to GBP600 million. Gross profit was up 4% to GBP551 million.
Information Services revenues were up 1% to GBP223, Post Trade Income was up 5% to GBP259 million and Capital Markets revenue were flat at GBP102 million.
On a nine-month year-to-date basis, total income is up 6% year-on-year to GBP1.84 billion.
As at September 30, the FTSE 100 constituent had available facility headroom of GBP757 million
Separately, LSEG said its proposed USD27 billion acquisition of financial markets data and trading platform provider Refinitiv has continued to progress well. It added it has secured further merger clearances from relevant authorities in the US, Australia, Canada and the UAE, bringing the total number of approvals to date to 15.
"We continue to engage constructively with the European Commission and believe the potential divestment of the Borsa Italiana group will contribute significantly to addressing the EU's competition concerns," Chief Executive David Schwimmer said.
Earlier in October, the company agreed to sell Borsa Italiana parent company London Stock Exchange Group Holdings Italia Spa to Euronext NV for EUR4.33 billion.
Shares in London Stock Exchange were trading 0.2% higher at 8,534.00 pence each on Friday morning in London.
By Ife Taiwo; firstname.lastname@example.org
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