Thain/LSE: Hot air in a cold climate

Clara Furse has already encouraged the London Stock Exchange’s shareholders to drop the bird in hand in the hope of unearthing a larger one in the bush. Now John Thain, speaking from Davos, has reinforced the message. The NYSE boss has not done anything so crude as to wave a fist-full of pound notes under the noses of LSE investors. At best he has hinted that a bid could be forthcoming at some point once the US exchange has absorbed Euronext. But then again that’s all he could say without alarm...