London Stock Exchange Group

Ticker LSE

Today's data summary

Market open
% change
-1.36%
Price Pence
4647.00
Change
-64.00
As of 11:42 21 Mar 2019
Market cap. Pound sterling
16,175.95 million
As of 11:42 21 Mar 2019

Latest updates

Disruption fear over share dealing plan

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ESMA

The EU's market regulator, the European Securities and Markets Authority, announced last night that some big UK shares will have to be traded by European banks and insurance companies in the EU if there a no-deal Brexit.

The companies involved included Vodafone, Rio Tinto, BP and Shell.

But the City regulator, the Financial Conduct Authority, said: "This has the potential to cause disruption to market participants and issuers of shares based in both the UK and the EU, in terms of access to liquidity and could result in detriment for client best execution".

"We therefore urge further dialogue on this issue in order to minimise risks of disruption in the interests of orderly markets."

London Stock Exchange announces job cuts

London Stock Exchange
Getty Images

London Stock Exchange has announced a round of job cuts as it prepares itself for Brexit.

The exchange said it would cut 250 staff in 2019 to help generate £30m in annual savings, but that it would not meet its target of core earnings margin of about 55% in 2019 as it spends on the business.

Its new boss, former Goldman Sachs veteran David Schwimmer, said businesses, including those perceived to be most exposed to Britain's impending exit from the European Union such as clearing, continue to perform well.