London, May 19, 2026, 11:04 BST
London Stock Exchange Group shares gained on Tuesday, with Fidelity data showing the stock up 120 pence, or 1.29%, quoted at a 9,394 pence sell price at 10:45 BST. Investors looked at a new technology deal and the ongoing buyback. The FTSE 100 was also higher, up 0.61% according to Hargreaves Lansdown delayed numbers.
LSEG’s push comes as it shifts from running a stock exchange to building out a data and infrastructure group. After months of investor debate about whether AI tools could threaten data vendors and terminals, the firm wants to prove AI makes its licensed data more valuable, not less.
LSEG and Broadcom on Tuesday announced a five-year renewal of their technology partnership, with a focus on VMware Cloud Foundation for running private cloud systems. This software supports private cloud infrastructure, not shared public cloud. LSEG infrastructure and cloud CIO Andrew Knight said the agreement brings “flexibility to support new services and workloads.” Luigi Freguia, EMEA sales president at Broadcom, said “reliability and performance really matter” for LSEG’s market infrastructure. Broadcom Inc.
The near-term pitch is clear, but what matters longer term is if LSEG can use its data estate as a better AI distribution platform. In April, LSEG said over 150 customers were using or joining its Model Context Protocol server. The software lets AI tap licensed data with more control and context. CEO David Schwimmer called it a “great start to 2026 across the board.” LSEG
LSEG lifted its full-year guidance after a better-than-expected first quarter. Total income excluding recoveries was up 9.8% on an organic constant-currency basis—adjusted for currency and some portfolio moves. LSEG now sees full-year revenue growth toward the top half of its 6.5%-7.5% range. Markets revenue added 15.5%, with trading strong as clients dealt with higher volatility.
LSEG is buying back its own shares. A filing Monday showed it picked up about 1.46 million shares from Goldman Sachs International between May 11 and May 15. LSEG plans to cancel these shares, with total voting rights dropping to 491.8 million after the move. A share buyback lets a company cut the number of shares in issue and can increase earnings per share if profits stay steady.
Matt Britzman, senior equity analyst at Hargreaves Lansdown, said after the April update that LSEG posted a “record first-quarter set of results.” He noted management is positioning the company as an AI enabler, not a casualty of the trend. Still, he pointed to ongoing worries: “uncertainty around AI disruption could continue to linger.” HL
Sell-side analysts are still positive. LSEG’s consensus, as of May 8, showed 16 buy calls and no holds or sells. The average target price was 12,131 pence, with shares closing at 9,186 pence the day before.
Peer activity is in focus. Deutsche Boerse shares traded higher Monday after hedge fund TCI revealed a 5.15% stake, putting the German exchange operator back in the spotlight over capital use and business plans. Back in February, Reuters said Elliott Management took a sizable position in LSEG and had pushed for a bigger buyback, a full review, and more detail on its AI approach.
LSEG faces clear risks. If AI tools make pricing less sticky for data terminals, or if the recent market volatility calms down, LSEG’s growth could lose its edge. The situation in the UK isn’t clear either. Sterling fell on Tuesday after jobs numbers missed, and MUFG’s Lee Hardman said, “much weaker-than-expected UK labour market data” hurt the pound’s rebound. Reuters
LSEG is getting credit from investors for execution right now. Next up: keep bringing more AI-tied products, complete the buyback without it seeming defensive, and prove at the July half-year numbers that Q1’s momentum wasn’t just driven by volatility. Fidelity puts LSEG’s half-year results down for July 2026.
