Bankers, brokers and accountants “largely supported” proposals unveiled earlier this year by the U.K. government to boost London’s listing regime, according to a report Friday by the financial center’s governing body.
Interviewees including representatives from the London Stock Exchange Group Plc, Deutsche Bank AG and law firm Linklaters back the introduction of weighted voting rights on the premium segment of the London stock exchange to give founders more control over their companies, and lowering the minimum stake that has to be floated in an IPO.
The support will be welcome news for the U.K. government after some of London’s biggest investors have expressed concerns that changing standards could weaken investor protections. When Deliveroo Plc listed in March, its dual-class structure was criticized by the likes of Legal & General Investment Management, even though the company is confined to the standard segment of the LSE for now.
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What is the FTSE 100?
The FTSE 100 is a stock index that tracks the 100 largest publicly-traded companies listed on the London Stock Exchange (LSE). The companies are ranked by market capitalisation – the combined value of the FTSE 100 is worth more than 80% of the entire LSE’s market cap.
The FTSE 100 is used as a benchmark for the economic health of the UK. If the price of the index rises, the constituents share prices are rising, which generally indicates a positive economic situation. Whereas a falling FTSE is a sign that the companies (and the wider economy) are experiencing a period of contraction.
28 April 2021 | 07:36am
StockMarketWire.com - British bourse London Stock Exchange reported a rise in first-quarter income, led by new business and strong customer retention.
First-quarter total income was up 3.9%, with good growth in data & analytics and capital markets. On a reported pro-forma basis, income was down 1.2% on a pro-forma basis.
Data & analytics revenues was up 4.7% and capital markets revenues was up 6.4%. Post income down fell 0.9%, while revenues were up 5.4%.
The sale of Borsa Italiana was progressing well and expected to complete shortly in Q2, the company said.
The acquisition of Refinitiv completed on 29 January 2021, and the company it was making good progress on its synergies and have already realised £40 million of run-rate cost savings.
By
Silla Brush. March 26, 2021,
A month after Britain voted to leave the European Union, Boris Johnson was asked whether he thought the finance industry would keep its rights to trade freely in the bloc. “I do, I do,” he told reporters. It was never that simple.
Half a decade later, billions of dollars in assets and thousands of jobs have moved to the continent after the U.K. negotiated a bare-bones trade deal with the EU that largely sidelined finance, giving cities across the bloc the chance to lure firms in flux.
While the two sides may be just about to ink an agreement to cooperate on financial regulation, neither expects the return of business as usual.