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 ». »

Les Bourses européennes dans la tourmente
LE FIGARO: Le CAC 40 perd plus de 3% et s'enfonce sous les 3800 points. Londres et Milan suivent le même chemin tandis que Francfort lâche 5%. Les opérateurs s'inquiètent de l'aggravation de la situation nucléaire du Japon.

Encore une journée morose à la Bourse de Paris. Le CAC 40, qui a plongé sous les 3900 points hier, reste ce mardi ancré dans le rouge. Après un démarrage en forte baisse de 2,17% à 3793,95 points, l'indice phare de Paris creuse ses pertes et lâche 3,43% à 3744 points vers 10h30. À Londres et Milan, les Bourses suivent le même chemin et abandonnent également plus de 3%. La Bourse de Francfort creuse ses pertes à près de -5%.

Les indices ont du mal à retrouver le chemin de la hausse alors que la situation nucléaire japonaise s'est encore aggravée. Une nouvelle explosion et un incendie ont eu lieu au sein de la centrale de Fukushima Dai-ichi. «Le niveau de radioactivité a considérablement augmenté» et devient dangereux pour la santé, a déclaré le premier ministre japonais, Naoto Kan, à la télévision, provoquant un vent de panique sur les marchés d'Asie. La Bourse de Tokyo, pour sa part, s'est écroulée de 10,55%. » | Par Hayat Gazzane | Mardi 15 Mars 2011

THE DAILY TELEGRAPH: London joins global sell-off as Japan crisis fuels panic: London shares fell sharply on Tuesday as investors in Europe joined a global market sell-off that started with a 10.55pc plunge in the Nikkei as panicked investors dumped stocks in the face of an escalating nuclear crisis in Japan. » | Tuesday, March 15, 2011

World's Stock Markets Suffer Heavy Losses
BBC: The UK's main share index has closed down sharply as concern over the impact of turmoil in the US sub-prime lending market continues to haunt investors.

While US shares were falling still further in early Wall Street trading, London's FTSE 100 ended the day down 4.1% or 250 points at 5,859.

This is the first time since October that the FTSE has closed below 6,000.

The falls came despite the Federal Reserve pumping an extra $17bn ($8.6bn) into the US banking system.

Central banks have been taking such action to try and restore confidence and avoid a credit squeeze.

Over the past week, the Fed has now injected $88bn (£44.3bn), while the European Central Bank has put up 211bn euros ($283.2bn; £142.6bn). Heavy losses sweep world markets (more

FAZ:
Der Crash geht weiter

LE FIGARO:
La bourse de Paris dégringole sous les 5300 points

Mark Alexander

Scandinavian Bourse Targeted for Take-Over by Owner of Dubai’s Stock Exchange
THE SUNDAY TIMES: THE owner of the Dubai stock exchange is to seek approval from the board of the leading Scandinavian bourse to make a full £2 billion takeover offer for the exchange this week.

The Dubai International Financial Centre (DIFC), which owns the emirate’s fledgling stock exchange, has lined up meetings with key shareholders of Swedish-based OMX and the company management, ahead of a planned full bid pitched at 230 kronor (£16.70) per share.

Representatives of the Dubai exchange are also to meet members of the Swedish government and local regulators this week in an effort to win support for its approach to OMX.

Dubai’s move could have profound repercussions for the London Stock Exchange, with the OMX deal heralding a new wave of global consolidation of bourses. Dubai is thought to have visions of creating a pan-European exchange to include the LSE – which has just bought Borsa Italiana – and OMX. The new combine would rival NYSE/Euronext, created by the joining of the New York exchange and the Paris-based European exchange last year.

Insiders said that the idea of including Nasdaq, the aggressive American market, has also been considered, but Dubai is nervous of a political backlash if it buys in America. Dubai poised to bid £2bn for Nordic bourse (more) By Louise Armitstead

Mark Alexander