London Stock Exchange investigating Refinitiv data outage

LONDON (Reuters) – The London Stock Exchange Group said on Thursday it was investigating a lengthy outage at its newly-acquired Refinitiv market data unit.

The outage at Refinitiv’s Eikon platform for market prices began around 0830 GMT. Subscribers who rely on its data for trading currencies and other assets, said on Twitter they were unable to access prices.

“We’re aware of an issue disrupting our service to customers,” LSEG said in a statement.

“We are currently investigating the cause of the issue and working hard to resolve the problem. We apologise to customers for the disruption.”

LSEG completed its $27 billion purchase of Refinitiv on Jan 29. Analysts had already expressed concerns last month that integration costs will be heavier and cover a longer period than had been expected.

Its shares have fallen 20% so far this year.

“Clearly this morning this is bad news for the group not to mention that clients have been left high and dry with no trading and loss of crucial market data,” said Securequity sales trader Jawaid Afsar.

Thomson Reuters, owner of Reuters News, has a 15% stake in LSE Group.

LSE shares were up 1.07% at 08:59 GMT according to prices on Yahoo.

Reporting by Thyagaraju Adinarayan and Huw Jones; Editing by Rachel Armstrong and Jon Boyle

“Gosh, no!” UK’s Sunak says not embarrassed by Deliveroo IPO

LONDON (Reuters) – British finance minister Rishi Sunak said he was not embarrassed by the plunge in the shares of Deliveroo ROO.L in their trading debut on Wednesday, after he endorsed the company as a British success story.

Shares in food delivery service Deliveroo plunged by as much as 30%, slicing more than 2 billion pounds ($2.76 billion) off the company’s valuation in a blow to Britain’s ambitions to attract fast-growing tech companies to the London market.

The highly-anticipated listing, the biggest on the London market in a decade, had earlier been hailed by Sunak as a “true British tech success story” that could clear the way for more initial public offerings (IPO) by technology companies.

Sunak was on Wednesday asked by ITV political editor Robert Peston if he now felt embarrassed. He said: “Gosh, no… share prices go up, share prices go down. We should celebrate success in this country.”

“You talk about Deliveroo, I think I remember Facebook when it first IPO’d – I think the share price halved over the next few months, and then obviously we all know what happened after that.”

Some of Britain’s biggest investment companies shunned Deliveroo’s listing, citing concerns about gig-economy working conditions and the share structure.

($1 = 0.7251 pounds)