The London Stock Exchange Group says it's continuing to work hard to win approval for its planned merger with Deutsche Boerse, a 29 billion euro deal now widely seen as doomed. As Ciara Lee reports, the comments came as its 2016 results show income for the year up 17 per cent.
A rollercoster week, not necessarily for markets, but for two of Europe's biggest exchanges. At the beginning of the week London Stock Exchange said it would not meet a new merger condition laid down by the EU - essentially pouring cold water on a 26 euro billion deal with Germany's Deutsche Boerse. By Friday, it insisted it is continuing to work to win approval. But some analysts remain sceptical as to whether LSE still wants to go ahead with the merger. (SOUNDBITE) (English) IG MARKET ANALYST, CHRIS BEAUCHAMP , SAYING: " I think this is an environment where they are gently preparing the ground, as gently as they can, for an end to this deal. And today's announcement of that dividend increase really sort of confirms that. They can make all the noises they like in public but this is clearly a management stepping away from a deal which it would very much like to pursue, but one that clearly the environment is turning against in a very definitive way." Meanwhile, the LSE said group income for last year rose 17 percent to 1.66 billion pounds. And revenue was up 14 percent to 1.5 billion pounds The exchange has refused to sell its fixed income trading platform MTS to satisfy EU competition officials. The Commission is due to rule on the merger by next month.