LSEG shares show inverted head-and-shoulders; 13,440p target

London Stock Exchange Group shares have formed an inverted head-and-shoulders pattern on the daily chart, with a neckline at 10,010p. The pattern’s head sits at 6,630p and the shoulders are near 8,065–8,084p.

The technical target is calculated by measuring the distance from the head to the neckline, about 34%, and projecting that distance above the neckline to reach roughly 13,440p. That target is about 47% above the current price of 9,162p. A daily close below the shoulder area near 8,084p would invalidate the pattern.

The pattern appears on the daily timeframe, so any move to the target could take months rather than days.

The shares retreated from an April high near 10,120p to 9,162p while tracing the formation. The left and right shoulders correspond to low swings in September of the prior year, and the year-to-date low at 6,630p forms the head.

On the fundamentals, LSEG reported group revenue growth of 9.8% in the first quarter. Data and analytics revenue rose 5.1%, FTSE Russell increased 8.8%, Risk Intelligence grew 10.5% and Markets advanced 15.5%. The combined subscriptions segment grew 6.3%.

LSEG reported an improved EBITDA margin and has returned more than £4.2 billion to shareholders in recent years. The group’s market capitalisation is just over £42.62 billion and the stock trades on a price-to-earnings ratio of about 34.

The UK market has seen limited IPO activity this year, with no major listings on the exchange. US listings including SpaceX, Anthropic and OpenAI have been prominent, with combined valuations that exceed the UK’s GDP.