London, June 22, 2026, 14:08 BST
- Shares slipped 0.5% to 8,416 pence after a muted rebound on Friday.
- AI pressure on LSEG’s data and workflow businesses stayed in focus after Rothschild & Co Redburn downgraded the stock.
- Investors are watching for interim results on July 30, the next check on growth, margins and AI monetisation.
LSE:LSEG shares traded lower on Monday afternoon, holding onto much of last week’s slide after a downgrade. At 14:04 BST, a Cboe Europe real-time read showed the stock at 8,416p, off 0.52% and down 7.76% for the past five sessions.
LSE:LSEG’s bounce on Friday didn’t hold up much. The stock rose 1.46% to 8,460p after ending Thursday at 8,338p, when it had dropped 7%. The move signals buyers are still struggling with the market’s reset on its AI exposure.
LSEG was cut to “neutral” at Rothschild & Co Redburn, which also trimmed its price target to £104 from £120. The broker said real-time data, indices and post-trade infrastructure still look fairly protected, but it flagged bigger risks for terminals, workflow products and non-real-time data as firms push cheaper, AI-driven data feeds and new interfaces. Rothschild sees as much as 30% of group EBITDA—earnings before interest, tax, depreciation and amortisation—facing downside pressure. Investing
LSEG’s operating results paint a different picture. First-quarter income, excluding recoveries, rose 9.8% on an organic, constant-currency basis. Data & Analytics climbed 5.1%, and Markets grew 15.5%. The Model Context Protocol server, which allows AI systems to access proprietary data, had more than 150 clients connected or onboarding. “Our focus through 2026 will be on roll-out and adoption of these services,” Chief Executive David Schwimmer said. LSEG
The debate among analysts has moved to revenue now, not just tech. UBS’s Michael Werner said, “It’s one thing to have usage, it’s another to start charging people.” Deutsche’s Benjamin Goy said the stock is “actually pretty cheap compared to other data companies.” LSEG was recently trading at around 18 times forward earnings, putting it below Moody’s and MSCI on valuation, but still ahead of FactSet. Reuters
Friday’s gain overstated the bounce. The maths shows Thursday’s 7% drop took the shares from around 8,966p to 8,338p, a loss of about 628p. Friday’s move clawed back just 122p, or 19%. Shares at 8,416p on Monday meant only 78p of that drop was left, or 12%. Redburn has cut its target to £104, still 23.6% above the current price. That’s not a call on returns—just that the shares have outrun the new price target.
London stocks moved lower after Prime Minister Keir Starmer said he would step down. The FTSE 100 slipped 0.1% early Monday while the FTSE 250, which tracks more UK-focused companies, was down 0.7%. More volatility can boost trading and clearing revenue for LSEG, but higher yields on government bonds may weigh on the valuation multiples that investors put on future earnings.
But there are risks in both directions. AI might hit Workspace pricing before LSEG can get more revenue from its new distribution channels. The Financial Conduct Authority’s plan for a consolidated equities tape—a single feed for prices and trades—could make public data LSEG now sells. Regulators are expected to decide in July. Volatile markets would help trading, clearing, and treasury income.
LSEG’s next set of numbers is due July 30 with its interim report. Investors want to see that subscription growth hasn’t slipped, new AI products are bringing in money, margins are getting better, and the £3 billion buyback is on track.
For now, the tape is clear: strong operating growth is still required but it’s not enough on its own. If the price can move back above 8,460p for any length of time, that could restore Friday’s bounce. If it falls through Thursday’s 8,338p close, the post-downgrade low comes back into view. This is just a technical level, not a forecast.
