(1888PressRelease)
November 24, 2007 - London Stock Exchange (LSE) shares dipped more than seven per cent yesterday, following the sale Banca Monte dei Paschi di Sienas' 2.9 per cent stake in the bourse for £145 million.
LSE shares fell 147 pence, or 7.8 per cent, to 1,739 pence - the largest one day percentage decline since May 25th 2006.
Monte Paschi has held its stake since August, having acquired it through the purchase of the Italian stock exchange Borsa Italiana.
The effect of the sale trimmed LSE stock's gain in the last three months to 33 per cent from 36 per cent.
This leaves it second-placed when rated against Deutsche Boerse on the Dow Jones Stoxx 600 Financial Index.
Mamoun Tazi, an analyst with MF Global Securities, told the Bloomberg news agency: "LSE shares have done very well. Some investors are looking to lock in some of their profits.''
The LSE's largest shareholders remain the Dubai stock exchange and the Qatar Investment Authority which hold stakes of 20.4 per cent and 14.9 per cent respectively.
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