On Friday, stock traders in London were stunned by the 90 minute delay that greeted them when they officially opened for the day. Officials have stated that this was due to a technical difficulty.
This wasn’t the first time London suffered such a delay. In June 2018, the London Stock Exchange (LSE) faced a similar issue, however it lasted for just one hour.
Some of the biggest companies didn’t make it up to the Financial Times Stock Exchange (FTSE) 100, UK’s blue-chip index, that morning, including BP, HSBC, and Barclays. Other parts of the market were able to open. As a result of the delay, the FTSE 100 opened higher at a 0.8% increase.
The delay comes after FTSE 100 shockingly hit a six-month low just one day prior.
The LSE has previously negotiated a deal with Refinitiv, a financial data provider, in which they purchased the company. This new addition to the LSE should combine the exchange’s data with the new company’s global distribution and analytics.