BBC: Britain's stock market has lost its position as Europe's most-valued, with France taking the top spot, data shows.
A weak pound, fears of recession in the UK and surging sales at French luxury goods makers are thought to be behind the shift, according to data from Bloomberg.
It's the first time Paris has overtaken London since records began in 2003.
It comes as the UK is expected to fall into recession this year, although the French economy is also under pressure.
The combined value of British shares is now around $2.821 trillion (£2.3 trillion), while France's are worth around $2.823 trillion, Bloomberg calculates.
It marks a huge reversal of fortunes for the London Stock Exchange, which was worth about $1.4 trillion more than its Parisian rival back in 2016.
France has been catching up for some time but shares in the UK's medium sized companies have been doing particularly badly this year, as consumers cut back their spending and businesses struggle with higher costs.
London's FTSE 250 share index - which is made up of medium sized companies focused on the UK - has slumped by almost 17% in the last 12 months. » | Faarea Masud, Business reporter | Monday, November 14, 2022
This must be another Brexit benefit, Nige! – Mark
Bourses : « Paris a dépassé Londres par le montant de sa capitalisation. Un signe de plus de l’affaiblissement de la City depuis le Brexit » : Ce cap franchi lundi 14 novembre reflète un phénomène plus large constaté depuis le départ du Royaume-Uni de l’Union européenne. La place londonienne est délaissée par de grandes sociétés, le climat des affaires outre-Manche est détérioré, observe Jean-Michel Bezat, journaliste économique au « Monde ». »
