Market Report - May 2003

London Stock Exchange Plc
09 June 2003



9 June 2003
MONTHLY MARKET REPORT FOR MAY 2003


                    SETS VOLUMES CONTINUE TO RISE


The number of trades on SETS(TM), the London Stock Exchange's electronic order
book, increased to 2.53 million in May 2003, 47 per cent higher than the 1.72
million trades in May 2002.  The value traded on SETS decreased by six per cent
to £55.5 billion in May 2003, down from £59.2 billion in May 2002.  There were
20 business days in May 2003 compared with 22 in May 2002.



The average daily number of trades on SETS was 62 per cent higher at 126,328, up
from 78,123 in May 2002.  SETS achieved a 64.4 per cent share of eligible trades
by value in May 2003, compared with 59.8 per cent in May 2002.



The total number of UK and international trades on the Exchange in May 2003 was
4.43 million, up from 4.22 million in May 2002.  The average daily number of
trades was 221,463 in May 2003, up from 191,916 in May 2002, an increase of 15
per cent.  The average daily value of these trades decreased from £20.3 billion
in May 2002 to £13.9 billion in May 2003.



On the primary market there were 11 new issues during May 2003, 3 of which were
IPOs on AIM, raising £398 million between them.  This compares with 19 IPOs in
May 2002 - 6 on the Main Market and 13 on AIM.   Northumbrian Water Group Plc
joined AIM on 23 May 2003, raising £389 million and becoming the biggest IPO in
AIM's history.



                                    - Ends -



For further information, please contact:

Tiffany Hardie-Evans               Press Office   [phone]



Notes to editors:



•           About the London Stock Exchange:



The London Stock Exchange is one of the world's leading 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 2002, the
market capitalisation of UK and international companies on its markets amounted
to £3.1 trillion, with £4.6 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 now five 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 - when a new company joins our market raising money.  This excludes
transfers and introductions (a company that joins a market without raising
money).




LONDON STOCK EXCHANGE


MONTHLY FACTSHEET FIGURES

May 2003


                                                     2003                             2002
DOMESTIC EQUITY TRADING                        Month    Year to date            Month    Year to date

Equity Trading Value (£m)                    143,296         695,197          168,076         782,218
Number of Equity Trades                    3,612,087      18,322,662        2,997,152      14,414,007


INTERNATIONAL EQUITY TRADING

Equity Trading Value (£m)                    134,345         680,189          278,900       1,286,242
Number of Equity Trades                      817,172       4,459,274        1,224,989       6,423,493




ORDER BOOK TRADING

Order Book Value £m                              55,525         282,895           59,199         274,211
Order Book Trades                             2,526,556      13,350,474        1,718,696       7,962,369


                                                          May 2003                 May 2002

DOMESTIC MARKET CAPITALISATION £bn                                    1,217                       1,523

TOTAL NUMBER OF COMPANIES                                             2,736                       2,890
UK list                                                1,637                    1,788
Foreign                                                401                      439
AIM                                                    698                      663
of which techMARK                                      201                      235




                                                      2003                            2002
MONEY RAISED £m                                 Month    Year to date          Month    Year to date

UK & AIM New Issues Equity                        414             523          1,388           3,325
Further, Rights and Other                       1,144           1,854            819           6,594
Bonds, Warrants, Fixed Interest                 7,439          43,061          5,746          33,811
Int. New Issues Equity                              -               -              -               -
Further, Rights and Other                           -           3,908             10           1,258
Bonds, Warrants, Fixed Interest                 5,188          37,089         11,705          36,803


COMPANIES ADMITTED                                 11              53             30             103








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