REVENUES at London Stock Exchange Group (LSEG) have rebounded strongly over the first three months of the year, powered by business growth and high customer retention.

The company has taken only a minimal hit from its Russia exposure, after the country's invasion of Ukraine saw the suspension of stocks with strong ties to the Kremlin.

While the delisting of 43 Russian stocks spelled a £60m knock for the group, LSEG's total income was up 6.3 per cent in the first quarter, or 6.8 per cent when adjusting for its losses.

Analysts at UBS said the Russia and Ukraine impact was "generally better than consensus expectations".

The group added that it is on track to meet all financial targets with a strong focus on its portfolio.

There has also been an annual subscription value growth of nearly five per cent.

Chief executive David Schwimmer said the group had delivered a "good"

first quarter, with company's performance strong across all of its divisions.

It has been boosted by multiple acquisitions in recent months, including Quantile, TORA and GDC.

LSEG believes the deals will enhance its offerings in post trade, trading and banking and customer and third-party risk.

LSEG suggests 73 per cent of group income is highly recurring in nature, diversified across customers, activity, product and geography.

(c) 2022 City A.M., source Newspaper