London Stock Exchange chief executive Clara Furse is planning to meet Nasdaq, which owns a stake in the LSE big enough to block a rival takeover, "soon". Her statement came as the UK exchange posted a slight increase in full-year profits after costs rocketed almost a third.

Furse confirmed that the two exchanges had met since Nasdaq started building its stake in the LSE. However, she said she had been waiting until after the results were announced today to meet the US exchange since its holding rose beyond a crucial 25.1% level that allows it to block any shareholder vote requiring a 75% majority.