stubborn discount marks UK stock market’s diminished appeal
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Another year, another disappointing performance for the UK stock market. The flow of new arrivals fell even below that of drought-stricken 2022. Meanwhile, the slate of quitters grew. As well as foreign takeovers and take-private deals, more companies contemplated switching their listings stateside. The common factor was the UK’s seemingly immovable valuation discount. This has barely moved over the course of the year, remaining at about one-third against the all-important benchmark US market...
