Lagging UK Stock Market Falling Behind Canada in Value Ranks

Geoffrey Morgan, Stephanie Hughes, and Joe EastonBrian Belski, chief investment strategist of BMO Capital Markets, joins BNN Bloomberg to discuss his 25,500 year-end target for the TSX.

The move took the UK to seventh place on a list of global stock markets by value, behind the US, China, Japan, Hong Kong and India, which surpassed the UK in 2021. Paris also overtook the London market in 2022, but political turmoil in France allowed the UK to reclaim its spot as the largest equity market in Europe earlier this year.

Toronto, meanwhile, is more heavily weighted toward cyclicals, which have all surged and led the benchmark S&P/TSX Composite to 29 record highs this year as the Bank of Canada led the Group of Seven economies in embarking on three rate cuts. A relatively larger weighting of high-growth tech companies, thanks in large part to Shopify Inc. and Constellation Software Inc., has helped Canada, too.

Of course, equity-market capitalization aside, Toronto is still a long way from overtaking London as a financial hub. London is ranked second only to New York on the Global Financial Centres Index, well ahead of Toronto, which is ranked 23rd. Moreover, 11% of the world’s assets are managed in the UK, second only to the US, according to the Investment Association.

London’s reputation as a listing venue for global firms has suffered several blows in recent years. British chipmaker ARM Holdings Plc opted to go public in New York, while firms including Flutter Entertainment Plc and Indivior Plc have chosen to switch their main share listings to the US.

México Últimas Noticias, México Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Stock market today: Nasdaq leads stock declines while oil spikes on Iran attackUS stocks sold off on Tuesday after Iran fired over 100 ballistic missiles against Israel.
Fuente: YahooFinanceCA - 🏆 47. / 63 Leer más »

Stock market today: Stock rally loses steam as S&P 500, Dow slip from recordsNow that the Fed has started cutting rates, the economy has taken to the fore for investors.
Fuente: YahooFinanceCA - 🏆 47. / 63 Leer más »

Stock market today: US stock futures tread water in wait for Fed's rate callInvestors are bracing for a crucial week dominated by the Fed's first interest-rate cut in four years.
Fuente: YahooFinanceCA - 🏆 47. / 63 Leer más »

Stock market today: S&P 500 clinches fresh record amid GDP data, chip stock gainsA double dose of optimism for the AI trade and for China's stimulus push is buoying the market ahead of Jerome Powell's comments.
Fuente: YahooFinanceCA - 🏆 47. / 63 Leer más »

Analyst outlines best options market plays post-triple witchingFriday’s market close marked the end of a “triple witching” session where $5.1 trillion in stock index futures, stock index options, and stock options expire...
Fuente: YahooFinanceCA - 🏆 47. / 63 Leer más »

Stock market today: Wall Street drifts near record highs following recent big movesNEW YORK (AP) — U.S. stocks are drifting around their records as financial markets around the world take a pause following big recent moves. The S&P 500 was up 0.1% in early trading Wednesday.
Fuente: SooToday - 🏆 8. / 85 Leer más »