London’s stock market misery grows

While listing activity has stalled globally, London is lagging behind other European venues like Milan and Zurich.

Ryanair last November became the first major company to blame its departure from the London Stock Exchange on Brexit.

A rise in companies fleeing the UK stock market is another blow to London’s status as Europe’s top financial centre, adding to the gloom around a lack of initial public offerings.

US-based tech investor Allied Minds Plc said on Wednesday it wants to delist from the London Stock Exchange, blaming its exit on the “prohibitively high” cost of maintaining a premium listing. Mining giant BHP Group earlier this year scrapped its top-tier quotation in the UK in favour of a primary listing in Australia, giving up its place in Britain’s blue-chip FTSE 100 index.