London, February 19, 2026, 08:56 GMT — Regular session
- LSEG shares ticked up 0.3% early in London, building on gains notched in the previous session.
- Elliott wants a portfolio review and is also pushing for a £5 billion buyback, according to a source.
- LSEG’s approach is under the spotlight again, with new bank data agreements landing just before next week’s results.
Shares in London Stock Exchange Group edged up 0.3% to 7,812 pence early Thursday, coming off a solid showing in the previous session for both the UK markets and the stock itself. (London South East)
Investors are reacting to a fresh activist campaign targeting the financial data and trading venue operator, sparking questions about the future of buybacks—a company repurchasing its own shares—and the implications for its wide-ranging portfolio. (Reuters)
Elliott Investment Management is pressing LSEG for a sweeping portfolio review alongside a £5 billion share buyback, according to a source speaking to Reuters on Wednesday. The hedge fund has also raised the possibility of cashing in on LSEG’s 51% holding in U.S.-listed Tradeweb Markets. On top of that, management is being pushed to make it clearer that large language models — AI tools that generate text — don’t pose a risk to LSEG’s business, the source added. (Reuters)
LSEG’s been touting a string of customer wins in recent days, backing up its push as a data and analytics supplier for major banks. The company highlighted longer-term deals and deeper contracts in announcements spread across the last two days. (LSEG)
LSEG on Wednesday announced it’s teaming up with Standard Chartered in a multi-year deal that will give the bank enterprise-level access to the group’s data, news and analytics—complete with what LSEG called “consistent rights management and delivery.” “We’re pleased to deepen our relationship with Standard Chartered,” Gianluca Biagini, group co-head of data and analytics at LSEG, said in a statement. (LSEG)
Just a day ago, LSEG announced a multi-year tie-up with Bank of America, allowing the bank to integrate LSEG’s data, analytics, and workflow tools throughout its platforms. “Trusted, high quality data is essential to how we support clients and manage risk,” said Fernando Vicario, CEO of Merrill Lynch International and Bank of America’s UK country executive. (LSEG)
Thursday’s broader market backdrop offered little support. European stocks slipped as uneven earnings combined with renewed geopolitical jitters, leaving investors cautious from the start. (Reuters)
Competitors have an eye on the same pressure points. Euronext CEO Stéphane Boujnah quipped the company “may have missed the Titanic” by skipping a data tie-up like LSEG’s. He also pointed out that certain data assets might be more vulnerable to AI shakeups than live trading data. (FN London)
Plenty could go off track here. LSEG might just brush off Elliott, or make only minor tweaks — the shares could just slide back into the broader tech and data rout. Offloading assets or cutting down the Tradeweb stake? That could run right into issues with valuations, tax complications, or timing.
Investors are eyeing LSEG’s FY 2025 preliminary results webcast set for February 26, 10:00 a.m. UK time, where CEO David Schwimmer and CFO Michel-Alain Proch will take the stage. Any word on capital returns, portfolio strategy, or the ongoing activist discussions could move the needle. (LSEG)
