Analyst Note
| Niklas Kammer, CFA |Wide-moat London Stock Exchange Group reported its first-quarter set of revenue. On an underlying basis, total revenue grew 6.3% to GBP 1,751 million as the group showed a good performance throughout its businesses. Data and analytics, London Stock Exchange Group’s flagship, delivered a solid 4.5% growth carried by strong performances in enterprise data solutions and investment solutions. Additionally, increased market volatility and changes in interest rate expectations benefited its post trade over-the-counter clearing operation (up 7.5%), the fixed income business Tradeweb (up 15.2%), and drove a good performance in its equity capital markets (up 10%).