LSE chairman on 'very powerful' merger with TMX

The London Stock Exchange (LSE) has agreed a merger with TMX Group, which operates the Toronto Stock Exchange.

The merged group will keep headquarters in both London and Toronto and become the world's largest exchange for mining companies.

More than 6,700 companies will be listed on the combined exchanges, with a market capitalisation of about £3.7 trillion ($5.9tn), the firms said.

Shares in the LSE climbed sharply in early Wednesday trading.

Chris Gibson-Smith is the current Chairman of the London Stock Exchange and he told the BBC the move ''hugely benefits the UK by being global''.

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