The combined market capitalisation of company listings in London is now $2,888.4bn vs Paris’s $2,887.5bn, according to an index compiled by Bloomberg.The fortunes of Paris have been dented by China’s economic slowdown.
Critics of Brexit pointed to the loss of its title as further evidence of the wisdom of leaving the European Union. Its reputation suffered further blows as major companies such asopted to list its shares in New York while other firms chose to de-list in London and go to the US. The incident hit shares in smaller companies – including the online fashion group Asos, polling company YouGov, food delivery firm Deliveroo, drinks firm FeverTree and Metro Bank – but forced an early end to trading.
“ will catch the attention of investors, people will want to have a quick answer to what was going on in order to maintain confidence,” Fiona Cincotta, markets analyst at City Index, said.