London Stock Exchange Group: Data and Analytics Business Maintains Growth Trajectory

Wide-moat London Stock Exchange Group posted a good set of numbers in its third-quarter trading update with income growing 6.6% versus the same period a year ago. In particular, its annual subscription value growth of 7.1%, a leading indicator of LSEG’s growth outlook in its data and analytics segment, eased concerns raised last quarter that the low-hanging fruit in this segment could have been picked already. In the previous quarter, the annual subscription value declined to 6.9% from 7.6% in the first quarter. New products and client wins in the remainder of the year as well as continued high retention figures are expected to further support subscription value growth.