Market Report - January 2005

London Stock Exchange Plc
09 February 2005


News Release




9 February 2005
MR43-01.05



                     RECORD TRADING FOR LSE IN JANUARY 2005



January 2005 was the busiest trading month on record for the London Stock
Exchange with an average 298,284 equity trades across the Exchange each day,
rising nine per cent on January 2004.  The total number of equity trades during
the month was 6.0 million, with a total value of £386.0 billion.



On SETS the average daily number of trades reached a record 187,144, up 17 per
cent on January 2004.  The average daily value of trades on SETS was £3.6
billion, slightly higher than in January 2004, which was itself one of the
busiest months on record on SETS.  On SETSmm there were 374,911 order book
trades during the month, worth a total of £3.9 billion, a 31 per cent increase
on the value traded in January last year.



ETFs made an increased contribution to the Exchange's trading figures in January
2005: the total value traded increased 78 per cent on the same month last year
to £517.6 million.



The London Stock Exchange's primary markets also made a strong start to the year
with 22 new issues in the course of January 2005, twice as many as in the same
period last year.  There was one IPO on the main market in January, raising £2.0
million.  AIM saw eight IPOs during the month, raising a total of £8.6 million
between them and increasing the total number of companies on AIM to 1,035.



There were 20 trading days in January 2005, compared with 21 in January 2004.

                                    - ends -





For further information, please contact:
Catherine Mattison                           Press Office   [phone]
[e-mail]



Notes to editors:



•    About the London Stock Exchange



The London Stock Exchange is one of the world's foremost equity exchanges and a
leading provider of services that facilitate the raising of capital and the
trading of shares.



The London Stock Exchange is the most international equities exchange by trading
in the world and Europe's largest pool of liquidity.  By the end of 2004, the
market capitalisation of UK and international companies on the London Stock
Exchange's markets amounted to £3.5 trillion, with £4.7 trillion of equity
business transacted over the year.



The London Stock Exchange is a Recognised Investment Exchange (RIE) under the
Financial Services and Markets Act 2000 and is supervised by the Financial
Services Authority.



•    SETS - the electronic order book



It is over seven years since the launch of SETS and the service continues to go
from strength to strength. Overall, the market is benefiting from tighter
spreads and greater liquidity. Usage of SETS continues to grow, as shown by
recent record increases in the number of orders entered, the number of firms
using the order book and order book share of business.



Indices are calculated and managed by FTSE Group, a world-leader in the creation
and management of global equity indices. The FTSE Group is jointly owned by the
London Stock Exchange and the Financial Times, but operates as a wholly
autonomous company.



For information about the company or any FTSE indices, please contact
[e-mail]



•    IPO



An IPO or Initial Public Offering is when a new company joins our market and
raises capital by issuing shares.  This excludes transfers and introductions
(when companies join the market without raising money).



•    SETSmm



SETSmm is the Exchange's successful trading service for FTSE 250 and other
leading non order book securities.  By combining the best features of the
existing SETS and SEAQ trading services, SETSmm appeals to market users who want
to trade electronically, as well as those customers who use the market making
system.



•    Retail Trading Figures



Retail trading figures are available from our website at -
www.londonstockexchange.com/en-gb/products/membershiptrading/retailtradestat
Figures are available from November 2002 to date.



LONDON STOCK EXCHANGE
MONTHLY FACTSHEET FIGURES



January 2005


                                        2005                               2004
DOMESTIC EQUITY TRADING                 Month          Year to date        Month        Year to date

Equity Trading Value (£m)                    196,769         196,769          209,749         209,749
Number of Equity Trades                    4,752,860       4,752,860        4,763,719       4,763,719


INTERNATIONAL EQUITY TRADING

Equity Trading Value (£m)                    189,192         189,192          210,245         210,245
Number of Equity Trades                    1,212,814       1,212,814          968,082         968,082



ORDER BOOK TRADING

Order Book Value (£m)                          72,093          72,093           75,431            75,431
Order Book Trades                           3,742,880       3,742,880        3,370,940         3,370,940




                                                     January 2005             January 2004

DOMESTIC MARKET CAPITALISATION (£bn)                                1,517                           1,367

TOTAL NUMBER OF COMPANIES                                           2,844                           2,681
UK list                                              1,460                    1,548
Foreign                                              349                      376
AIM                                                  1,035                    757
of which techMARK                                    167                      176


                                          2005                              2004
MONEY RAISED (£m)                         Month       Year to date          Month        Year to date

UK & AIM New Issues Equity                         12              12             84                84
Further, Rights and Other                         163             163            988               988
Bonds, Warrants, Fixed Interest                11,180          11,180         16,609            16,609
Int. New Issues Equity                              -               -              -                 -
Further, Rights and Other                          69              69             91                91
Bonds, Warrants, Fixed Interest                 5,008           5,008          8,586             8,586


COMPANIES ADMITTED                                 22              22             11                11




                      This information is provided by RNS
            The company news service from the London Stock Exchange