How Brexit Became Prime Suspect in the Death of the Stock Market

THE TELEGRAPH: Clues point to Britain’s 2016 vote as City suffers brutal losing streak

Just before 8am on Tuesday morning, around a dozen top bankers trudged into Number 11 Downing Street to solve a pressing problem.

The London stock market, a beacon of Britain’s standing in the world, is rapidly losing its status as a global centre for raising new capital.

Companies that once jetted into Heathrow to tap London’s vast pools of money are slowly fleeing to the US or into the arms of private equity buyers. Even those who are already listed here are starting to flee.

The London stock market just endured its quietest year since 2010, according to EY, while investors have continued to remove billions from UK equity funds.

At £2.3 trillion, Apple is now worth more than the entire British stock market.

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What is behind the slump? Figures in the City point the finger of blame at the Brexit vote and the political instability in Westminster that followed. » | Michael Bow and Adam Mawardi | Saturday, January 13, 2024

What have I been saying all along? Brexit was, is, and will forever remain a disaster for the British economy. Nobody with just an elementary understanding of economics would be for Brexit. There are many reasons why Brexit is a disaster for the economy and for us Brits, but one of the main economic reasons is that the European Union is the largest single market in the world. Known as The Single Market, it is a market of approximately 450million consumers. And we, as a nation, have walked away from it! One needs just a modicum of intelligence and an elementary understanding of econpmics to figure out that such a move makes absolutely no sense whatsoever. The British electorate were lied to and led down the garden path. Brexit will lead to no good place; it will impoverish the nation. Indeed, it is already doing so. It will also lead to lower standards.

This country needs to reverse Brexit as soon as possible. And please allow me to make one more very important suggestion. It is as follows: We need to dump the pound sterling in favour of the euro. Ever since the turn of the last century, the pound has lost in value in relation to other world currencies. In fact, the pound has approximately halved in value each and every decade in the twentieth century! Therefore, we need to adopt the euro. The euro is the currency of the future. We need to be part of it. – © Mark Alexander

London Loses Position as Most Valuable European Stock Market

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 ». »