On Monday morning in London, the FTSE 100 experienced its largest surge in over a month, initially rising around 1.2% as the markets opened before retreating slightly. By 8.30am, the FTSE was trading 0.6% higher, while Germany’s DAX increased by 0.8% and France’s CAC rose by 0.7%. The pan-European STOXX 600 also showed positive movement, being 0.6% in the green.
These developments followed a report by Sky News indicating that Chinese fast fashion giant Shein is planning to file for a London listing sometime in June. This potential float could value Shein at approximately £50bn, marking it as one of the most significant City floats in more than a decade if it proceeds.
The news is seen as a victory for London as a listing venue, which has recently faced challenges with large companies considering other stock exchanges. Notably, betting company Flutter Entertainment (FLUT) and chip giant ARM (ARM) have been exploring opportunities in the US for more substantial investments and greater prospects.
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