(Reuters) - London Stock Exchange Group (>> London Stock Exchange Group Plc) beat analysts' expectations with a 27 percent jump in first-half adjusted operating profit, helped by strong growth at its global indexes business, FTSE-Russell.

Stock exchange operators have benefited from the economic uncertainty in global markets over the past few months, particularly surrounding the Greek debt crisis and the prospect of a Federal Reserve rate hike this year.

Last week Euronext, one of the biggest pan-European exchange operators, reported a 21 percent rise in second-quarter core earnings bolstered by its cash trading business helped by economic uncertainty causing a spike in volumes.

LSEG, Europe's oldest independent bourse, reported an adjusted operating profit of 366.1 million pounds compared with 288.8 million pounds last year.

Analysts had expected first-half adjusted operating profit of 350 million pounds, according to a company provided consensus figure of six analysts.

LSEG shares rose as much as 3 percent, and were up 1.9 percent at 1116 GMT (12.16 p.m. BST), outperforming the FTSE100's <.FTSE> 0.5 percent rise.

The company, which owns the London Stock Exchange, Borsa Italiana and MillenniumIT, said its first-half was also helped by underlying growth in its information services, capital markets, over-the-counter clearing at LCH.Clearnet and Italian post trade operations.

LSEG, which bought Seattle-based Frank Russell Co last year for $2.7 billion mainly for its large index business, said the integration of FTSE and Russell Indexes was progressing well.

Chief Executive Xavier Rolet said on Wednesday a long list of bidders was interested in the asset management arm of the Frank Russell business, and a sale would be announced in due course.

He declined to comment on a possible merger of LSEG with other exchanges, but said on a conference call: "Our industry will continue to need to consolidate but today our focus is certainly not consolidation, our focus is open access because the customer benefits."

In April he said the LSEG may strike a deal with one of the big four Western exchanges within two years.

This week, CME Group struck a deal with LSEG to list derivatives contracts based on Russell indexes that are currently listed only on rival Intercontinental Exchange Inc's (>> Intercontinental Exchange Inc) market. Rolet envisages more such deals.

"We do expect some of the unique intellectual property produced by FTSE-Russell to attract further interest, and we are looking to participate with exchanges," he said on Wednesday.

RBC Capital Markets said LSEG's first-half results indicated that the management was continuing to deliver. Barclays raised its price target on the stock to 2840 pence from 2780 pence citing lower-than-expected underlying costs and better-than-anticipated revenue.

LSE Group said it would pay an interim dividend of 10.8 pence, up from 9.7 pence last year.

The 214-year-old exchange group operates a broad range of international equity, bond and derivatives markets, and has operations in Italy, France, North America and Sri Lanka.

(Reporting by Aashika Jain in Bengaluru; Editing by Anupama Dwivedi and Susan Thomas)

By Aashika Jain