London Stock Exchange logs soaring quarterly revenues

The London Stock Exchange Group reported a surge in revenues in the first quarter of its financial year on Thursday, boosted by the acquisition of a majority stake in clearing house group LCH.Clearnet. Revenues jumped 39 percent to £249.7 million ($379 million, 289 million euros) in the three months to the end of June, compared with the outcome in the same period a year earlier. "The group has made a positive start to the year," said the group's French chief executive Xavier Rolet. "Our portfolio of complementary global brands continues to perform well and we have seen revenue growth across all of our business divisions." Last year, the LSE clinched a deal to buy a majority stake of up to 60 percent in LCH.Clearnet. The company, which operates the London Stock Exchange and Italy's Borsa Italiana market, also issued an upbeat outlook on Thursday. "The group has made a positive start to the new financial year and remains well placed to develop as markets evolve," the LSEG added. "We will continue to focus on delivering benefits from recent transactions, developing opportunities and expanding our more diversified range of products and services."