Market report - November 2004

London Stock Exchange Plc
08 December 2004




News Release

8 December 2004
MR41-11.04


 AVERAGE VALUE TRADED ON LONDON STOCK EXCHANGE UP 31 PER CENT ON NOVEMBER LAST
                                      YEAR


The average daily value of equities traded across the London Stock Exchange
during November 2004 was £20.7 billion, a 31 per cent increase on the average
daily value traded during the same month last year.  The average daily number of
equity trades was 293,935.  The total value of equity trading during the month
was £454.7 billion, an increase of 44 per cent on November last year.


In total there have been 60.55 million UK and international equity trades on the
London Stock Exchange in the year to the end of November, already exceeding the
56.11 million trades in the whole of 2003.  Similarly the value traded to the
end of November 2004 was £4,337.1 billion, compared with £3,636.0 billion traded
in the whole of 2004.


During the month there were 4,013,822 equity trades on SETS, exceeding the four
million mark for the first time.  The average daily number of trades on SETS was
a record 182,446. The total value traded on SETS during November was £78.7
billion, bringing the value traded on SETS so far this year to £813.9 billion.
The average daily value traded on SETS rose 14 per cent on November 2003 to £3.6
billion.


SETSmm, the Exchange's hybrid order book and market maker trading platform, saw
a total of 375,267 order book trades, worth £4.0 billion.  The average daily
value traded on SETSmm was £179.90 million.


There were 9,815 ETF trades on the Exchange during November, worth a total of
£534.35 million.  The average daily value traded in ETFs was £24.29 million, up
56 per cent on November 2003.


On the main market there were 8 IPOs raising a total of £768.34 million.  Of
these, two were international IPOs, raising £109.99 million between them.  AIM
saw 23 IPOs raising £142.61 million between them.


There were 22 trading days in November 2004, compared with 20 trading days in
November 2003.

                                    - 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 2003, the
market capitalisation of UK and international companies on the London Stock
Exchange's 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


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


November 2004


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

Equity Trading Value (£m)                    198,771       2,144,478          169,477       1,729,526
Number of Equity Trades                    5,106,586      49,516,404        3,907,572      42,498,937


INTERNATIONAL EQUITY TRADING

Equity Trading Value (£m)                    255,939       2,192,600          146,861       1,602,197
Number of Equity Trades                    1,359,986      11,028,601          733,581       9,144,667



ORDER BOOK TRADING

Order Book Value (£m)                          78,677         813,896           62,936           662,010
Order Book Trades                           4,013,822      37,358,565        2,813,470        30,225,715




                                                     November 2004            November 2003

DOMESTIC MARKET CAPITALISATION (£bn)                                1,452                           1,334

TOTAL NUMBER OF COMPANIES                                           2,802                           2,682
UK list                                              1,466                    1,562
Foreign                                              357                      389
AIM                                                  979                      731
of which techMARK                                    167                      181


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

UK & AIM New Issues Equity                        876           5,813            267             2,281
Further, Rights and Other                         521           9,241            443             5,167
Bonds, Warrants, Fixed Interest                11,643         118,820         12,178           111,879
Int. New Issues Equity                            110             772            165             1,134
Further, Rights and Other                          12             204            303             5,192
Bonds, Warrants, Fixed Interest                 6,691          84,569          6,687            88,256
                                                                                  18
COMPANIES ADMITTED                                 42             360             18               159



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