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Confusion on London stock market | Confusion on London stock market |
(about 2 hours later) | |
Trading on the London stock market was thrown into confusion after technical problems resulted in misleading information being published. | |
In a highly unusual move, trading on the London Stock Exchange (LSE) was extended to 1800 GMT after terminals in the City displayed incorrect prices. | |
These showed the benchmark FTSE 100 closing up on Wednesday, even though it was sharply down for most of the day. | These showed the benchmark FTSE 100 closing up on Wednesday, even though it was sharply down for most of the day. |
The LSE blamed the disruption on problems with "data dissemination". | The LSE blamed the disruption on problems with "data dissemination". |
Data issues | Data issues |
This resulted in incorrect figures for the FTSE 100 and for the performance of some individual company shares being displayed. | This resulted in incorrect figures for the FTSE 100 and for the performance of some individual company shares being displayed. |
The LSE said it had experienced problems with "data feeds" at 1600 GMT, about half an hour before the market's normal close. | The LSE said it had experienced problems with "data feeds" at 1600 GMT, about half an hour before the market's normal close. |
These "connectivity problems" had affected price information which providers such as Reuters and Bloomberg sell on to traders and other City professionals. | |
Revised figures after the extra's hour trading showed the FTSE 100 down 54.8 points at 6420.1, with shares of leading banks and mortgage lenders under continuing pressure. | |
The disruption to trading will be a serious embarrassment for the LSE, one of the world's largest stock market operators. | The disruption to trading will be a serious embarrassment for the LSE, one of the world's largest stock market operators. |
It recently acquired Italy's Borsa Italiana for £1.6bn, a deal which the LSE said would create Europe's largest market for trading shares. | It recently acquired Italy's Borsa Italiana for £1.6bn, a deal which the LSE said would create Europe's largest market for trading shares. |
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