Europe’s stock exchanges outperformed their US-based peers over the past 12 months, despite increased competition and several high-profile technical glitches, as investors remained bullish on takeover prospects.

Shares in the London Stock Exchange jumped 55% in the 12 months to the end of October, nearly doubling the 28% rise in an index of the world's 18 largest listed exchanges compiled by UK consultancy Mondo Visione. The FTSE 100 index rose 15% over the period.