First-quarter turnover at the London Stock Exchange rose by 8% on the back of a small number of new listings and heavy trading as share prices crashed around the world.

Europe's biggest stock market saw turnover rise to £58.5m (€91.7m) in the three months to June. Trading on SETS, the LSE's electronic order book, rose sharply as investors continued to sell shares with increasing fears over the state of corporate US and the long-term effect that accountancy scandals at WorldCom and Enron were having on confidence.