Weak U.K. economy after Brexit fallout and resurgence of French luxury goods tips the balance
According to data compiled by Bloomberg, Paris now commands the biggest bourse, the result of reduced post-Brexit demand for U.K assets; the increased popularity of French luxury goods groups; and the impact of the tumbling pound.
According to data compiled by Bloomberg, Paris now commands the biggest bourse, the result of reduced post-Brexit demand for U.K assets; the increased popularity of French luxury goods groups; and the impact of the tumbling pound. Much of the damage to London’s market cap has come from concerns about the poor performance of the U.K. economy. Inflation is at a 41-year high of 11.1% and the Bank of England’s consequent interest rate rises are starting to hit a housing market considered central to Britons’ financial health.
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