Strategists at HSBC Holdings have questioned whether the UK market is becoming more and more “irrelevant,” noting outflows from funds, weak growth and falling market capitalization weights of British stocks in global indexes over the last two decades.
The world’s biggest listing this year may be that of a British firm, but in Arm’s home market there’s much lament over its decision to sell shares in New York over London.
The Cambridge-based chip designer, controlled by Softbank Group Corp, unveiled its long-awaited filing for an initial public offering in the US on Monday. It’s the latest blow for the London Stock Exchange, which has seen more companies quit than join, and whose indexes lag behind European and US peers.
