London Stock Exchange share price: Group hikes stake in LCH

FTSE 100 pays €424.5 million

London Stock Exchange share price: Group hikes stake in LCH

London Stock Exchange Group (LON:LSE) has lifted its stake in LCH Group, the FTSE 100 company has said. The news comes after the blue-chip group disclosed in October that it was in the process of acquiring up to a further 15.1 percent in the clearing house, for up to  €438 million (£384 million).

London Stock Exchange’s share price has been little changed in today’s session, having inched 0.20 percent lower to 4,022.00p as of 13:22 GMT. The stock, however, is outperforming the broader UK market, with the benchmark FTSE 100 index currently standing 0.64 percent lower at 6,833.74 points. The group’s shares have added just under six percent to their value over the past year, as compared with about an 8.3-percent dip in the Footsie.

LSE hikes stake in LCH further

LSE said in a statement today that it had increased its stake in LCH Group to 82.6 percent, having completed the acquisition of an additional 14.6 percent from certain minority shareholders for an aggregate amount of €424.5 million (£382.1 million).

In October, the company said that its acquisitions of holdings in the clearing house were consistent with its strategy of increasing its majority ownership, while re-affirming its commitment to LCH’s customer partnership model with 14 minority shareholders remaining. 

Analysts on FTSE 100 group

Credit Suisse reiterated its ‘outperform’ stance on LSE this week, without specifying a price target on the shares, while earlier this month, Royal Bank of Canada also reaffirmed the FTSE 100 group as an ‘outperform,’ valuing the stock at 5,100p. According to MarketBeat, the blue-chip company currently boasts a consensus ‘buy’ rating and an average price target of 4,884.17p.

LSE updated investors on its third-quarter performance in October, posting a rise in revenues.

As of 13:33 GMT, Friday, 14 December, London Stock Exchange Group Plc share price is 4,019.00p.

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