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UK Finance Ministry: Britain to launch review into attracting more stock market listings
Britain’s finance ministry said on Wednesday it will launch a review into how investor research on companies could be improved to attract more listings, a step that follows a decision by UK chip designer Arm Ltd to only list in New York, reported Reuters.
The Ministry also mentioned that the Investment Research Review will be launched next Monday and chaired by Rachel Kent, a veteran financial services lawyer at Hogan Lovells, who will report back to City minister Andrew Griffith within three months.
Also read: BCC: UK to avoid recession this year but outlook still weak
Key quotes
It seeks to develop concrete steps the government can take to enhance London’s status as Europe’s leading listings destination, and only second globally.
Investors use research from analysts at banks and brokers for picking stocks, but concerns have been raised about the quality and quantity of research produced in Britain, particularly for tech and life sciences.
GBP/USD stays pressured
The news fails to improve the Cable’s conditions amid a light calendar in Asia. That said, the quote remains depressed near 1.1850 as the US Dollar bulls occupy the driver’s seat.
Also read: GBP/USD retreats from 1.1850 as risk-off mood rebounds amid tight US labor market
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