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Last Updated: Thursday, 20 April 2006, 22:50 GMT 23:50 UK
Strong earnings surge for Nasdaq
The headquarters of the London Stock Exchange
Nasdaq purchased a sizeable chunk of the LSE in April
The high-tech US stock exchange Nasdaq has said earnings rose 42% compared to the same time 12 months ago and also raised its income forecast for 2006.

Earlier in April the Nasdaq bought a 15% stake in the London Stock Exchange (LSE) at a price of 11.75 per share, in a deal worth 447.7m ($780m).

That came a month after it dropped a takeover of the LSE, when a 9.50-a-share proposal was rejected.

Nasdaq first quarter net income was $18m (10m), up from $12.7m a year ago.

The exchange now says it is looking to incomes of $63m to $73m for the full year, up from the $57m to $69m predicted at the start of the year.

At the time of the LSE buy a Nasdaq spokesman said it had been a "very strategic purchase".

Analysts are now watching to see if it makes a full bid for the London market.

However Nasdaq chief executive Robert Greifeld would only say that it was now "entering a phase of global consolidation in the exchange space" and that it is in a strong position to become a "preferred partner for exchanges all across the planet".

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12 Apr 06 |  Business
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11 Apr 06 |  Business
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10 Mar 06 |  Business

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