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City of London

London’s Stock Market Edges Back Above Paris After Pound Surge

  • UK market capital lost top spot to Paris 10 days ago
  • Move driven by sterling rebound, French luxury rally easing

A rally in the pound has lifted the UK stock market back above its French equivalent as the biggest in Europe in dollar terms, after it lost the title just 10 days ago.

The combined market capitalization of primary listings in the UK, excluding ETFs and ADRs, reached $2.915 trillion on Wednesday, about $63 billion higher than its French equivalent. That’s due to a 2.5% gain in sterling in the past seven trading sessions against the dollar, compared to a rise of only 0.7% for the euro.