London Stock Exchange Group (LSE:LSEG) shares rose 1.6%, to 9,906p, on Thursday after it upgraded its 2026 growth guidance.
The Q1 trading statement showed record quarterly revenue, with total income excluding recoveries up 9.8% on an organic constant-currency basis and division performance led by Markets (+15.5%), Risk Intelligence (+10.5%), FTSE Russell (+8.8%) and Data & Analytics (+5.1%), underscoring the group’s role as a multi-asset trading venue and data and post-trade infrastructure provider.
LSEG said the upgrade reflects very strong trading volumes in Markets, accelerating subscription momentum across its Data & Analytics, FTSE Russell and Risk Intelligence businesses, and a high pace of product innovation.
Management highlighted rapid adoption of LSEG Everywhere, noting over 150 customers connected or onboarding to its MCP server and early positive feedback from Workspace AI tools.
The group returned £1.1bn to shareholders in Q1 and said it remains on track to complete a £3bn buyback by February 2027 while targeting leverage around the middle of its 1.5-2.5x net debt to EBITDA range at end-2026.
LSEG reiterated specific 2026 targets of a constant-currency EBITDA margin improvement of 80-100 basis points, c.9.5% capex intensity, equity free cash flow of at least £2.7bn (at £1=$1.32, €1=£1.17) and an underlying tax rate of 24-25%.
“We are confident in the outlook and the delivery of all of our financial targets for the year,” Chief Executive David Schwimmer said.
LSEG will host its Q1 trading update call for analysts and investors today at 08.30am UK time with David Schwimmer and Chief Financial Officer Michel-Alain Proch.
