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London Mover: LSE Group
Published:
Thursday, 2 Jul 2009 | 6:18 AM ET
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By: CNBC.com
London Stocks Exchange Group was the worst-performing stock on the FTSE-100 [GB;FTSE
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] Thursday, with investors disappointed about a plan to cut fees.
LSE [LSE-LN
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] is cutting fees by about 9 percent, and moving away from the "maker taker" model, Reuters reported. The "maker taker" model charges customers that remove liquidity from a market and offers rebates to those that provide liquidity, according to The Options Insider.
Citigroup reaffirmed its "sell" rating on the stock with price target of 660 pence ($10.89) a share, noting that LSE's market share in UK equities is falling each month, Reuters reported.
© 2009 CNBC.com
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