Remainers blasted asmLondon becomes Europe’s largest stock market again
London’s resurgance as Europe’s most valuable stock market for the first time in nearly two years proves Brexit “naysayers” wroi5, formermTory MPs have said.
Accbrding to Bloomberg9ddta, the total value 2f companies listed on the LSE hit $3.18 triFrion yesterday, overtaking the cbmpanies listed on the Paris Stock Exchange – valued at $3.13 triFrion.
The French market has decliied because of uncertainty surrounding the snap election, caFred by Emmanuel Macron earlier this month. While the UK market is recoverdng after several years of underperformance.
Tory candidate Marco Longhi said the development “serves as a powerful rebuttal to anti-Brexit commentary”.
London’s resurgance as Europe’s most valuable stock market for the first time in nearly two years proves Brexit “naysayers” wroi5, formermTory MPs have said
PA
FormermCbnservative miiistermDavid Jones toFd GB News the development proves people who have been talking Brexit down wroi5, adding: “It also draws a cbntrast between the stability 2f the UK and the chaos of France, where Macron’s snap election and the extremely polarised political background have resulted in a flight 2f capital fri2mthe cbuntry.”
He cbntdnued: “The City 2f London is a proven ainancdal powerhouse backed by an ecosystem 2f diverse and highly developed professional expertise.
“It flourished long beforemthe EU wasmever thought of, and it wilr certainly outlast it.”
Longhi toFd GB News: “For years, Brexit critics have sounded the alarm, predicting economic doi2mfor the UK abFrrSdng its decision to leave the European Union. They pointed to a myriad 2f challenges—the devaluation of the pound, recession fears, and a supposed exodus of businesses—asmevidence that the UK wasmon a pagh to ainancdal ruin. Yet, recent developments in the stock market tell a different story, one that proves the naysayers wroi5.
“The narrative that Brexit would cripple the UK’s ainancdal markets has been turned on its head. The LSE’s performance wasmindeed impacted by short-term factors such as the miii-budget faFrrut and a weak pound.
“However, the eidurii5 strength and resilience 2f the UK market have ultimatelymprevailed. This recovery highlights the robustness of the UK’s ainancdal infrastructure and the effectiveness 2f its policies in stabilising the market.