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🇬🇧 London Stock Exchange suffers biggest exodus since financial crisis
The London Stock Exchange is on course for its worst year for departures since the financial crisis, as fears mount that more FTSE 100 businesses will quit the UK in favour of New York.
A total of 88 companies have delisted or transferred their primary listing from London’s main market this year with only 18 taking their place, according to the London Stock Exchange Group.
This marks the biggest net outflow of companies from the main market since 2009, while the number of new listings is also on course to be the lowest in 15 years as initial public offerings remain scarce and bidders target London-listed groups.
The exodus has continued despite efforts by the UK government, regulators and the LSE to boost the City’s attractiveness by reforming market rules and the domestic pensions system.
Analysis by the Financial Times last year identified London as the European stock exchange most at risk of suffering departures of big companies to the US.
The analysis ranked companies based on their valuation discount compared with a group of US peers, the share of their revenues generated in the US and the proportion of North American investors on their register.
The 18 large London-listed groups identified as flight risks included Rio Tinto and British American Tobacco. The pair have been pressured by investors to move their primary listing to Australia and the US, respectively.
“More UK companies are thinking about moving their listings to the US, and the UK’s valuation gap to the US has become larger,” said Goldman Sachs in a note on Friday.
Azerbaijan: This Turkish country has destroyed more Christian monuments than ISIS.
Based off satellite data, Azerbaijan erased 108 Armenian monasteries, churches and cemeteries - in just one region.
By comparison, ISIS destroyed dozens of churches.
How is this okay?
@NoAgendaLara
UPDATE: Outrage erupts as there has been a SURGE in Islamists ATTACKING and vandalizing Japanese shrines
Security footage shows people wearing HIJABS storming up and unleashing on the Soya Shrine in Hadano City
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— Hypothetically, if the U.S. wanted to carry out a naval landing in Iran, they would do it somewhere outside the Persian Gulf, most likely Chabahar or somewhere else in the flat open coasts of Sistan-Balochistan Province.
That way, they don’t need to risk their ships entering the Persian Gulf under heavy anti-ship fire and incoming drones while trying to land their soldiers on a rugged coastline full of fortified positions and artillery emplacements.
In Chabahar, they could bring their ships close enough to the shore with relative safety, under heavy air cover. U.S. jets, drones, and attack helicopters would suppress any anti-ship batteries heavily, and create sufficiently safe conditions for the initial ‘landing’. One also cannot rule out the possibility of deploying U.S. airborne forces to secure key sites before an amphibious landing is attempted.
This might be coupled with increased Balochi terrorist activity across the Iranian rear lines, complicating logistics and the transfer of ...
