London Exchange inches ahead

The London Stock Exchange (LSE) has seen profits rise 3% to £41.7m ($70m) in the last six months.

Europe's largest share market also said that turnover was flat on the same period last year as it copes with uncertain stock market conditions.

LSE added that strict cost controls and had helped underpin its earnings, while recent investment initiatives were beginning to show results.

Chairman Chris Gibson-Smith said: "Although various market indices have risen since March, our financial performance is not directly linked to the level of the market and it may therefore take a period of time for benefits to be reflected in our main business areas."

Looking ahead he added that he was "confident" that performance would remain "resilient".

The FTSE 100 has gained around 13% during the period.