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Italian Banks Help LSE Beat Revenue Forecasts
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The London Stock Exchange comfortably beat analysts' revenue forecasts for the last quarter of 2011, reporting a 17 percent rise in income to 196.3 million pounds ($308 million) boosted by interest on short-term loans to Italian banks.
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The British exchange beat a revenue forecast of 180.8 million pounds ($283.6 million) with treasury income from its Italian clearing house of 33.5 million pounds ($52.5 million), against forecasts of 26.6 million ($41.7 million).
The LSE's [LSE-LN
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] main capital markets business earned 68.9 million pounds ($108 million), compared with a forecast of 69.8 million pounds ($109.5 million), while the group's data services group made 52.8 million ($82.8 million), versus 44 million ($69 million) from a consensus of analysts.
Its Italian clearing house CC&G, like other clearing providers, offers short-term liquidity to its clients and this unit has benefited in recent months from increased demand from Italian banks.
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Data is a real-time snapshot *Data is delayed at least 15 minutes
