The Paris stock exchange became more expensive than the London one and became the largest in Europe. Several factors influenced the changes, including the policy of the penultimate British Prime Minister Liz Truss, in which the exchange rate of the pound sterling against the US dollar plunged to its lowest level in 37 years.
The total capitalization of primary-listed companies in Paris outpaced those in London by the same measure, making the Paris stock exchange the most expensive in Europe, Bloomberg writes. The market capitalization of companies on the Paris stock exchange reached $2.823 trillion compared to $2.821 in London.
The publication noted that before the start of the United Kingdom’s exit from the European Union in 2016, the difference in the total volume of capitalization of companies on the stock exchanges reached about $1.5 trillion, but after Brexit began decrease.
The index, which tracks shares of the top 10 (mostly French) luxury goods companies, rose 8% between November 10 and 11, showing the strongest local growth since March 2020.
Bloomberg clarified that the growth of the Paris stock market and the fall of the London one were influenced by the policy of the former British prime minister, in two months whose leadership of the pound sterling against the US dollar collapsed to its lowest since 1985.
Author:
Kirill Bilyk
Source: RB
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