LSE suffers amid trading slowdown A disappointing trading update from the London Stock Exchange was compounded by technical problems across some trading floors on Wednesday morning, with some market makers having trouble logging on to terminals. Although trading opened without a hitch, the worries came at a bad time for the LSE, which issued a weak set of results for the five months ending in August. Trading volumes on its flagship London stock market fell by a fifth over the period and16 per cent at its Italian arm, the company said. Peter Lenardos, director of diversified financials at RBC Capital Markets, said: "Most metrics - money raised, terminals, settlement, clearing - are lower. Plus, the euro weakened during the period, making translation of Borsa Italiana profits unfavourable. The market was expecting a statement that was negatively impacted by weak market conditions but the level of the decline is a bit of a surprise. LSE shares were down 2 per cent at £10.38 in early dealings, underperforming the wider market. The group has struggled in recent months as trading volumes have slumped and uncertainty over the world economy has deterred companies from raising capital on its markets. Money raised totalled £4.3bn in the five months to August, down 81 per cent compared with the same period a year ago. Average daily trading values in London were weak at £4bn, down 20 per cent year-on-year. Borsa Italiana, meanwhile, saw the average number of daily trades fall 16 per cent to 226,000. Post-trade services were also weak, with total contracts cleared and total settlement instructions down 22 per cent and 25 per cent respectively. There were some bright spots, however. The total number of professional terminals, at 227,000, exceeded expectations. The technical issues on Wednesday "caused a stir on the trading floors," said one trader. It was not panic, but it was not a good time for the LSE to announce they might fail to open.