City's hopeful horizon: The fortunes of UK listed companies are starting to reverse, says ALEX BRUMMER By Alex Brummer Updated: 22:01, 17 June 2024 e-mail View comments The obituary for share trading in London has been written many times. However, the latest data shows that London’s equity markets have regained leadership over Paris, in spite of France hosting LVMH, Europe’s most valuable enterprise. Fears of an ultra-Right government in France have given London the edge.
Confidence in the UK as a venue for listings has also been underpinned by the recent surge in the price of computing firm Raspberry Pi, with the shares climbing 55 per cent since arriving on the London exchange last week. There are now hopes of more bigger listings to come with controversial online Asia-based fashion group Shein among contenders. Recovery: Latest data shows that London’s equity markets have regained leadership over Paris, in spite of France hosting LVMH, Europe’s most valuable enterprise Nevertheless, the City is having a hard time.
A succession of companies, the latest is the plant-hire giant Ashstead, is enviously looking to New York where most chief executives (Elon Musk is the exception) escape intense scrutiny over fat cat pay awards. A series of firms has already fled across the Atlantic. Flutter, parent company of betting brands Paddy Power, Betfair and Sportsbet, approved a shift of its primary share listing from London to New York last month in search of a higher valuation.
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