Stock Take

British and Irish stock exchanges in peril as more companies opt for New York

The British government is taking steps to encourage firms to keep their primary listings in London. When will we do the same?

Traders on the floor of the New York Stock Exchange in New York: Major companies are increasingly opting for the deep liquidity of US public markets. Picture: Getty

One by one the headlines have thudded on to Britain’s news pages over recent months, predicting in increasingly dire terms the death of London’s stock exchange.

With homegrown success stories like Arm, the Cambridge-based semiconductor giant, snubbing the FTSE 100 in London for a mega-listing in New York, Britain’s declining status on the world equities stage has become an ever-sharpening political thorn in the side of Rishi Sunak, the country’s prime minister.

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