UK loses stock market throne

A weak pound and strong French luxury brands have propelled Paris past London to become the biggest stock exchange in Europe

UK loses stock market throne

UK loses stock market throne

Paris stock exchange overtakes London to become Europe’s biggest, thanks to luxury brands

London is no longer home to Europe’s biggest stock market, with Paris taking over the crown on Monday, according to Bloomberg. The outlet credits the strong performance of luxury brands like Louis Vuitton and Gucci and hopes that Chinese shoppers will be eager to spend money as the pandemic restrictions are relaxed.

reported, citing their research data. Britain had a $1.5 trillion advantage over France in 2016, when it voted to leave the European Union in the “Brexit” referendum.

“The UK economy as a whole has been permanently damaged by Brexit,” he said. “The need for tax rises and spending cuts wouldn’t be there if Brexit hadn’t reduced the economy’s potential output so much.”

“hammering” taken by the mid-capitalization shares of retailers and consumer-oriented brands. 

“well” against global recession concerns. Louis Vuitton owners LVMH, valued at $360 billion, reported “record sales” in the US and expect a good Q4 in Chinese markets.