LSE third-quarter earnings up 2%, Refinitiv deal set to close early 2021

FILE PHOTO: The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS/Toby Melville/File Photosaid on Friday it expects to close its $27 billion purchase of data analytics firm Refinitiv in the first quarter of 2021 as it posted a 2% increase in third-quarter income.

The Refinitiv deal, which will expand LSE’s trading business and make it a major distributor and creator of market data, was announced last year but ran into regulatory hurdles in Europe as regulators raised concerns about its market share in European bond trading. LSE this month agreed the sale of Borsa Italiana as part of remedies to appease the European Union’s antitrust authorities.

The exchange said Refinitiv, which is 45% owned by Reuters’ parent Thomson Reuters, is on track to hit $650 million in annual cost savings by the end of the year. Reporting third-quarter results, LSE said its total income climbed to 600 million pounds for the three months ended Sept. 30, beating an analyst consensus of 592 million pounds. Its post trade division, which includes clearing house LCH, recorded the biggest growth at 5%.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tesla earns two upgrades from analysts after its stellar earnings reportNew for subscribers: Tesla earns two upgrades from analysts after its stellar earnings report Check out CNBCPro today. Pro Utter PERMABULLSHIT from disgraceful vested interest charlatans Pro Wow. This even after Bolivia just voted to stop Musk from stealing their lithium? Pro They literally sold credits to make their numbers, not cars.
Source: CNBC - 🏆 12. / 72 Read more »

Here's what the major Wall Street analysts said about Tesla's third-quarter earningsNew for subscribers: Here's what the major Wall Street analysts said about Tesla's third-quarter earnings Check out CNBCPro today. Pro Tesla’s Credit reimbursements are not organic cash flow. That is the elephant in the room but no one sees it💁🏻‍♂️ Pro Who cares. Eat the Rich! Pro What about electric cars?
Source: CNBC - 🏆 12. / 72 Read more »

Here's what every major analyst said about Netflix's disappointing earnings reportNetflix reported slowing subscriber growth in its third-quarter earnings report on Tuesday after the bell but Wall Street analysts said it's a buying opportunity. Pro Did Jim Cramer comment? Because he’s a hack. firejimcramer Pro Shoulda listened and got rid of cuties like we said Pro Should have never cut That 70’s Show
Source: CNBC - 🏆 12. / 72 Read more »