London, Feb 12, 2026, 08:20 GMT — Regular session
- Shares of LSEG climbed in early London trading as investors continued to analyze Elliott’s stake.
- Focus now turns to buybacks, costs, and the looming AI threat as full-year results approach later this month.
- Sentiment in the sector is still shaky following a widespread sell-off among data and analytics stocks.
Shares of London Stock Exchange Group plc (LSEG.L) climbed 1.7%, hitting 7,508 pence by 08:20 GMT on Thursday. The stock kicked off at 7,492 and fluctuated between 7,442 and 7,510, per delayed data. (London South East)
The rally arrives amid investors reevaluating the group’s remaining value after a steep drop and renewed activist interest. Reuters Breakingviews noted that LSEG shares have dropped around 35% in the last year and currently trade at about 16 times forward earnings—based on analyst profit estimates—putting its valuation closer to exchange operator Euronext than data rival MSCI. (Reuters)
Timing is crucial as management prepares to update investors shortly. LSEG has scheduled a webcast for its FY2025 preliminary results on Feb. 26, featuring CEO David Schwimmer and CFO Michel-Alain Proch. (LSEG)
Elliott’s exact stake size remains unknown, but a source told Reuters the hedge fund is in talks with LSEG to boost performance and push for another buyback. A spokesperson said, “LSEG maintains an active and open dialogue with our investors, while remaining focused on executing our strategy.” Dan Coatsworth, head of markets at AJ Bell, noted investors are waiting for Elliott to “spell out” its intentions. Meanwhile, Blue Whale Growth fund CIO Stephen Yiu commented, “When you’ve got your core business under attack from AI, you need to really focus strategy.” (Reuters)
LSEG revealed it purchased 353,987 shares on Feb. 10 at an average price of 7,411.63 pence, marking the final buys under its November buyback programme. A buyback involves a company using cash to repurchase its own shares, cutting the total share count and potentially boosting earnings per share if profits stay steady. (Investegate)
The stock saw an early boost on Thursday after a choppy session Wednesday, when Elliott-related news sent shares surging briefly before they slipped back. LSEG finished the day up 0.2%, and London’s FTSE 100 hit a record close, powered by gains in housebuilders and energy sectors. (Reuters)
Elliott’s typical tactics are clear: ramp up capital returns, tighten the grip on costs, and shuffle assets to close valuation gaps. What remains uncertain is the board’s speed and appetite for action.
AI is at the heart of the debate. Investors fear generative AI might drive down costs for data analysis and automation, leading clients to expect cheaper services or new offerings. LSEG insists its data and market infrastructure maintain pricing power, yet the market remains unconvinced and wants evidence.
RELX pushed back on the AI chatter Thursday, saying products with built-in AI will fuel growth for “many years” after it posted a 9% jump in operating profit for 2025. Despite the ongoing AI debate rattling its shares, the company remains confident. (Reuters)
Britain’s economy expanded by just 0.1% in the fourth quarter of 2025, falling short of forecasts from economists and the Bank of England, official figures revealed. This kind of data can influence risk appetite nearly as much as corporate developments. (Reuters)
Activist campaigns often fall short, particularly when the AI threat keeps evolving and customers discover less expensive alternatives to accomplish the same tasks. If LSEG’s Feb. 26 guidance doesn’t ease concerns around pricing, retention, or investment spending, this week’s gains could quickly vanish.
Traders are keeping an eye out for any significant shareholding disclosures that shed light on Elliott’s stance, as well as any indication the board might restart the buyback program. The key date to mark is Feb. 26, when Schwimmer and Proch will field questions during the earnings call.
