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Speculation has been mounting that further interest rate cuts will be announced by the Bank of England, after minutes from its previous meeting on cuts were released. They reveal that the Bank's n...
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Thursday 22nd May 2008
After being the subject of takeover and merger offers for the last few years it seems that the sustained period of growth at the London Stock Exchange (LSE) is now over. Clare Furse, the chief executive of the Exchange today announced that trading levels were down some 11% for the month of May so far and the value of trades was also under pressure.
The move seems to be the result of slowing economies around the world and the threat from a raft of new dealing system which have opened up in the UK. While the new exchanges have not taken an awful lot of business from the exchange they have provoked something of a rethink on the costs front. This has put pressure on margins at a time when general dealing numbers are falling.
While there are many who have criticised Furse over her stern defence of the LSE after approaches by a number of overseas parties, she has stood her ground very well. Even though the LSE is suffering it is by no means the only exchange suffering from competition and reduced activity numbers. Things may be tough at the moment but the LSE is still very much a main player in worldwide stock markets. |
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