Britain’s stock market is getting back on its feet.
Less than a year after losing the crown of Europe’s biggest equity market, London looks set to recapture it from Paris, as the rally in French luxury shares falters.
The combined US dollar-based market capitalisation of primary British listings stands now at US$2.90 trillion versus France’s US$2.93 trillion, according to an index compiled by Bloomberg.
The gap between the two has narrowed steadily, primarily driven by a slide in France’s value from last year’s US$3.5 trillion record as economic gloom in the key Chinese market deepens.
Fidelity Special Values PLC (LON:FSV) aims to seek out underappreciated companies primarily listed in the UK and is an actively managed contrarian Investment Trust that thrives on volatility and uncertainty.