London Stock Exchange warns it may take buffetting from EU vote

The London Stock Exchange, which is merging with Deutsche Börse in a £24 billion deal, today warned the Brexit vote could hit investor confidence and trading volumes.

Among the risks to its business the LSE identified were the loss of clients, lower fees from companies listing and reduced clearing volumes.

It also said Brexit could lead to speculation about similar votes in other European countries.

“The risks have been carefully crafted with our lawyers,” said chief executive Xavier Rolet.

“But I have been clear that as a business we are here to serve our customers and shareholders and we have the capabilities to continue to provide those services.”

It said it had spent £55 million on the merger. That number will rise.

Revenues jumped 9% to £722 million in the first half with operating profits also up 9% at £333 million. The interim dividend goes up 11% to 12p a share.