London on Cusp of Becoming Biggest Stock Market in Europe, Again

📆 2023/10/01 13:02:00
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(Bloomberg) -- Britain’s stock market is getting back on its feet.Most Read from BloombergSenate Voting on Bill to Avert US Government ShutdownOnce Unthinkable Bond Yields Now the New Normal For MarketsCongress Averts US Government Shutdown Hours Before DeadlineEurope’s Richest Royal Family Builds $300 Billion Finance EmpireWeight-Loss Drugs Estimated to Save Airlines MillionsLess than a year after losing the crown of Europe’s biggest equity market, London looks set to recapture it from Paris, a

Less than a year after losing the crown of Europe’s biggest equity market, London looks set to recapture it from Paris, as the rally in French luxury shares falters.

Barclays’ strategist Emmanuel Cau reckons the UK market is currently a “good place to hide” and expects that energy exposure and easing inflation could spark “meaningful” investment inflows. His counterpart at HSBC, Max Kettner, turned bullish on UK equities this week for the first time since May 2021.

One of the FTSE’s blue chip oil stocks, Shell Plc, is hovering near five-year highs. That 2018 peak coincided with a $75-a-barrel oil price. Now, if forecasts of $100 oil are right, the FTSE 100 could be headed much higher.

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