Financial regulation

London’s stock market has had a genuinely dreadful couple of years, and the numbers aren’t exaggerated for effect. By the third quarter of 2025, the London Stock Exchange had slipped to 23rd in Bloomberg’s global ranking of Initial Public Offering (IPO) destinations behind Oman, behind Mexico, behind Singapore, having raised just $248 million all year, the weakest haul in more than 35 years. AstraZeneca, one of the Financial Times Stock Exchange 100s (FTSE) largest constituents, announced it would be “upgrading” its New York listing. Wise had already gone. Flutter Entertainment and Ashtead Group had switched their primary listings to the…