Turnover at the The London Stock Exchange surged 13 per cent in the three months to June 30 compared to a year earlier as the bourse benefited from a healthier IPO market and increased take-up of broking services.

Earlier this week the LSE reported that June had been its best month for new companies listing on its main market in more than four years.

The total of 15 initial public offerings was the best since November 2000 and raised a total of £1.9 billion – the largest amount raised since July 2001.

Party Gaming, the internet gambling company, was the largest float in June, raising £4.6 billion. Other large IPOs during the month included Inmarsat, at £367.5 million, Evraz, at £231.6 million, and Mapley, at £140.80 million.

The LSE said that turnover increased to £67.7 million from £60.1 during the quarter compared with the for the same period last year.

The upbeat figures come as the market awaits a report from the Competition Commission on its investigation into the impact of a bid for the exchange from Euronext or Deutsche Boerse. The preliminary findings from the Commission are due later this month.

Revenue from issuer services, which includes that derived from initial public offerings and the Exchange' announcements service, was up 40 per cent to £14.3 million.

In the first quarter to end June there were 184 new issues on the LSE's markets, up from 92 a year earlier. At the end of June, 2,994 companies were traded on the LSE from 2,722 the previous year.

The number of new issues in the first quarter on the main market more than doubled to 37 from 16 the year before. The Alternative Investment Market saw 147 new issues compared to 76 last year.

The volume of trading on the SETS electronic order book rose 27 per cent to 196,000 bargains per day from 154,000 a year earlier.

Revenue from broker services grew by 11 per cent to £27.1 million, and from information services by 6 per cent to 22.4 million.

The LSE chief executive, Clara Furse, said: "The Exchange has made a strong start to the financial year, increasing turnover by 13 per cent.

"The performance was characterised by continued growth in issuer activity on both our main market and on AIM, good trading on SETS and an overall increase in the number of terminals receiving Exchange data.

"This strong start to the year demonstrates why our confidence in the future is high."

In December Deutsche Boerse unveiled a £1.3 billion proposed bid for Europe’ largest stock exchange, which the LSE rejected as too low.

Euronext, which runs the Dutch, Belgian, French and Portuguese exchanges and the London-based derivatives exchange Liffe, approached the LSE a week later but did not make a formal bid.

In March Deutsche Boerse shelved its takeover attempt following objections from key shareholders, but the company has reserved the right to re-enter the auction if Euronext makes a firm offer, or if another bidder emerges.

Shares in the LSE were down 1p at 495.5p in afternoon trade.

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