London's role as a global financial hub is under scrutiny as more public companies, including Plus500 and YouGov, contemplate listing in the United States, signaling a wider issue of London’s waning appeal for equity markets.
Some believe the UK’s short-selling regime is open to abuse. Market makers have an exception to a rule forbidding so-called naked short selling, when you sell shares you do not own and are not borrowing from somebody. Proponents of this system say market makers need to be able to do this to provide liquidity in the market.
“We’ve clearly got the desire and framework for it, but we’re not all providing financing and the rocket fuel that enables those companies to [grow],”London Stock Exchange chief Julia Hoggett has been critical of UK investor risk appetites“How do we create a system that is more willing to accept risk,” he asked in an“Everything about risk reduction. That has been the thing that has undermined growth, and importantly it has undermined returns.
“I don’t think that’s a completely fair assessment given that foreign investors own around two thirds of listed UK shares, so reticence towards UK companies is coming from overseas as well,” Susannah Streeter, head of money and markets at Hargreaves Lansdown, told“The London market has struggled to recover partly due to Brexit effect, current UK economic troubles but also the make up of the indices with far less of a tech focus, and so have been left on the sidelines of the recent AI fuelled...
You also got a real divergence in valuations between the US and the Eurozone around Brexit. That is the real pushback I give against it being solely a Brexit effect.”“Unfortunately, and again politicians don’t want to say this, but it’s very clear what’s caused the undervaluation: it’s Brexit,” he told Citywire in an interview.
“You also got a real divergence in valuations between the US and the Eurozone around that time,” he adds. “That is the real pushback I give against it being solely a Brexit effect.”
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