Market Report - April 2004

London Stock Exchange Plc
11 May 2004


MONTHLY MARKET REPORT                                11 May 2004
FOR APRIL 2004                                       MR34 - 04.04

                       APRIL SETS(TM) TRADES UP 25 PER CENT

Trading on the London Stock Exchange continued to grow in April 2004 with year
on year increases across its markets.


In April 2004, the average daily number of trades on SETSTM, the Exchange's
electronic order book, rose to 155,018 from 124,450 in April 2003.  The value
traded on SETS during the month was £69.4 billion representing a 31 per cent
increase from £52.8 billion traded in April last year.  There were 3.1 million
trades on SETS - up 25 per cent on April 2003 - including 229,533 SETSmm trades
worth £2.64 billion.


There were 4.24 million UK equity trades in the month, an increase of 22 per
cent on the total of 3.49 million equity trades in April 2003.  The total value
of UK shares traded during the month was £178.8 billion, up 34 per cent from
£133.7 billion on the corresponding period last year.


Trading in covered warrants and ETFs also showed gains with 8,891 ETF and 3,877
covered warrant trades compared to last April's totals of 4,558 and 1,884 trades
respectively.


Following 24 new admissions during the month, the number of AIM companies rose
above 800 for the first time.  At the end of April 2004, there were 809 AIM
companies with a combined market capitalisation of £21.9 billion.  This was up
from 705 companies with a combined market capitalisation of £10 billion at the
end of April 2003.



The primary market saw 30 new issues in April raising £409.3 million between
them.  Six of these were on the Main Market (five of which were IPOs) and 24
were on AIM (17 of which were IPOs).  This compares with 16 new issues (five on
the Main Market and 11 on AIM) in April 2003.



There were 20 business days in April 2004, which was the same number as in April
2003.



                                    - ends -





For further information, please contact:

Richard Webster-Smith        [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 2003, the
market capitalisation of UK and international companies on its markets amounted
to £3.3 trillion, with £3.6 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 over six 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).





•      SETSmm



SETSmm is the Exchange's new 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 - http://
www.londonstockexchange.com/trading/retailtrade.asp

Figures are available from November 2002 to date.




LONDON STOCK EXCHANGE

MONTHLY FACTSHEET FIGURES



April 2004


                                                    2004                             2003
DOMESTIC EQUITY TRADING                        Month    Year to date            Month    Year to date

Equity Trading Value (£m)                    178,805         826,192          133,683         551,901
Number of Equity Trades                    4,243,690      18,546,640        3,488,392      14,710,575


INTERNATIONAL EQUITY TRADING

Equity Trading Value (£m)                    208,187         824,352          122,404         545,844
Number of Equity Trades                      968,395       3,956,314          800,450       3,642,102


ORDER BOOK TRADING

Order Book Value (£m)                         69,408         304,410           52,784         227,370
Order Book Trades                          3,100,363      13,226,082        2,489,005      10,823,918




                                                       April 2004               April 2003

DOMESTIC MARKET CAPITALISATION (£bn)                                  1,391                       1,163

TOTAL NUMBER OF COMPANIES                                             2,700                       2,760
UK list                                              1,521                    1,649
Foreign                                                370                      406
AIM                                                    809                      705
of which techMARK                                      177                      203


                                                     2004                            2003
MONEY RAISED (£m)                               Month    Year to date          Month    Year to date

UK & AIM New Issues Equity                        409           1,306             73             109
Further, Rights and Other                         274           2,633             83             710
Bonds, Warrants, Fixed Interest                 5,761          49,869          8,258          35,621
Int. New Issues Equity                            201             219              -               -
Further, Rights and Other                           3             111          3,783           3,908
Bonds, Warrants, Fixed Interest                 8,637          34,017          7,774          31,902


COMPANIES ADMITTED                                 30              91             16              42







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