London, June 23, 2026, 12:04 BST
London Stock Exchange Group rose 1.0% to 8,360 pence by 12:03 p.m., based on a quote lagged 20 minutes. Shares moved in a range from 8,182p to 8,386p after falling Monday.
LSEG bounced back after dropping 2.15% to 8,278p on Monday, lagging the FTSE 100, which gained 0.72%. Shares ended Monday nearly 25% off their 52-week peak at 10,990p.
Tuesday’s relative strength stands out. Earlier, the FTSE 100 slipped 0.7% as investors braced for higher rates. Data showed Britain’s services sector shrinking at the fastest rate since January 2023. For LSEG, more volatility can help trading and clearing, but bets on higher rates can hurt how investors value future earnings.
Regulation returned to focus. Britain rolled out its first consolidated tape for bonds on Monday, putting prices and volumes from different trading venues into one feed. ETS Connect UK is running the service, not LSEG. Coverage started at 98% of eligible bond trades. The Financial Conduct Authority is working on a similar feed for shares and ETFs. “Good markets run on good information,” FCA markets director Simon Walls said. FCA
LSEG could feel more impact from the planned equity tape since pre-trade data like displayed bids and offers might be included—and the group sells that info. London Stock Exchange CEO Julia Hoggett has said a post-trade-only setup would be “more prudent and pragmatic,” and warned she could take the case up with the government. The FCA is set to decide on the design in July. Reuters
LSEG’s operating business is holding up. First-quarter income, excluding recoveries, rose 9.8%. Markets revenue climbed 15.5%. FTSE Russell was up 8.8%. Data & Analytics added 5.1%. The group bought back £1.1 billion in shares for the quarter, aiming for £3 billion by February 2027. CEO David Schwimmer said more than 150 customers are now linked up or joining its AI-data server. “Our focus through 2026 will be on roll-out and adoption,” he said. LSEG
The valuation gap isn’t a blank check. Reuters said this month that LSEG is trading at around 18 times forward earnings—lower than Moody’s and MSCI but pricier than FactSet. Deutsche Bank’s Benjamin Goy called the shares “pretty cheap compared to other data companies.” UBS’s Michael Werner said AI is still a “show me” story, since actual usage needs to become paid revenue. Reuters
LSEG’s May consensus page showed 16 buys, zero holds or sells, and a 12,131p average target. Shares bounced Tuesday, so that target is still in play. Next up: seeing if AI leads to real revenue and if July’s equity-tape call hurts market data’s economics.
