The combined market capitalisation of all London-listed companies reached US$3.178 trillion at the close on Jun 17, 2024, outpacing Paris on US$3.136 trillion, according to closing levels recorded by Bloomberg. LONDON: The London Stock Exchange is once again Europe's biggest stock market by valuation after reclaiming the crown from Paris as France is rocked by political turmoil.
London has been boosted in recent months by cooler inflation, growing takeover activity and potential flotations, helping its top-tier FTSE 100 index to reach record highs. That wiped out gains so far this year - and was its worst weekly performance since March 2022, shortly after Russia invaded Ukraine."Although some of the risk-off sentiment which spread sparked by worries about the far-right gaining legislative power in France has eased off, Paris-listed stocks have made only a feeble recovery," said Susannah Streeter, head of money and markets at Hargreaves Lansdown.
London's stock market, which has become also the world's sixth biggest stock market by value, is faring well ahead of a UK general election on Jul 4, when the main opposition Labour Party is forecast to defeat the ruling Conservatives, led by Prime Minister Rishi Sunak.
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