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Brexit fallout finally dawns on London’s stock market (Telegraph)


pellinore

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You can't get more Tory than the Telegraph. Yet even it can't help reporting on the damage Brexit is doing to our status as a financial centre. The evidence of the damage Brexit is doing is everywhere- the City; manufacturing; fishing; farming; and on our supermarket shelves with fewer foodstuffs, less variety, higher prices and often sold on their sell-buy date; and much higher permanent immigration. And all because a few loonies are afraid of our own continent, Europe.

Just before 8am on Tuesday morning, around a dozen top bankers trudged into Number 11 Downing Street to solve a pressing problem.

The London stock market, a beacon of Britain’s standing in the world, is rapidly losing its status as a global centre for raising new capital.  

Companies that once jetted into Heathrow to tap London’s vast pools of money are slowly fleeing to the US or into the arms of private equity buyers. Even those who are already listed here are starting to flee.

The London stock market just endured its quietest year since 2010, according to EY, while investors have continued to remove billions from UK equity funds.

Brexit fallout finally dawns on London’s stock market (msn.com)

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53 minutes ago, pellinore said:

You can't get more Tory than the Telegraph. Yet even it can't help reporting on the damage Brexit is doing to our status as a financial centre. The evidence of the damage Brexit is doing is everywhere- the City; manufacturing; fishing; farming; and on our supermarket shelves with fewer foodstuffs, less variety, higher prices and often sold on their sell-buy date; and much higher permanent immigration. And all because a few loonies are afraid of our own continent, Europe.

Just before 8am on Tuesday morning, around a dozen top bankers trudged into Number 11 Downing Street to solve a pressing problem.

The London stock market, a beacon of Britain’s standing in the world, is rapidly losing its status as a global centre for raising new capital.  

Companies that once jetted into Heathrow to tap London’s vast pools of money are slowly fleeing to the US or into the arms of private equity buyers. Even those who are already listed here are starting to flee.

The London stock market just endured its quietest year since 2010, according to EY, while investors have continued to remove billions from UK equity funds.

Brexit fallout finally dawns on London’s stock market (msn.com)

Here we go again. EU shill pellinore deliberately going out of his way to post negative news. Strange how you never go out of your way to post positive news eh pellinore?

For instance, a major Financial Services deal was signed between the UK and Switzerland just a few weeks ago. The deal is admitted - even by ardent EU supporters - to be far better than what the EU has in place with Switzerland, and could not have been signed whilst we were EU members.

So why were you not proudly shouting this major postive news from the rooftops then pellinore? 🤔

Strange how it's only negative news that you proudly shout about, whilst quite obviously deliberately ignoring anything positive. It's as if you've got a one-sided agenda. 🤔

Anyone would think that you don't actually want to see a post-Brexit UK (your own country) doing well outside of the EU. 🤔👇👇👇👇

https://financefeeds.com/uk-and-switzerland-sign-berne-pact-for-open-access-to-financial-services/

Edited by Destination Unknown
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48 minutes ago, Destination Unknown said:

Here we go again. EU shill pellinore deliberately going out of his way to post negative news. Strange how you never go out of your way to post positive news eh pellinore?

For instance, a major Financial Services deal was signed between the UK and Switzerland just a few weeks ago. The deal is admitted - even by ardent EU supporters - to be far better than what the EU has in place with Switzerland, and could not have been signed whilst we were EU members.

So why were you not proudly shouting this major postive news from the rooftops then pellinore? 🤔

Strange how it's only negative news that you proudly shout about, whilst quite obviously deliberately ignoring anything positive. It's as if you've got a one-sided agenda. 🤔

Anyone would think that you don't actually want to see a post-Brexit UK (your own country) doing well outside of the EU. 🤔👇👇👇👇

https://financefeeds.com/uk-and-switzerland-sign-berne-pact-for-open-access-to-financial-services/

We have made a deal with one country. We were the financial centre of Europe, attracting global investment.

Still, you have to take Brexit Benefits where you can find them- here a Tory MP explains finding shellfish in the Thames is "a brilliant Brexit Bonus".

She asked for the prime minister to congratulate the fisherman in question for his “proactive work”, before inviting the PM to her constituency to “maximise this brilliant Brexit bonus for Essex fishermen”.

The Commons broke out in laughter at that – and even Rishi Sunak couldn’t suppress a giggle when he began his response.

Tory MP Identifies 1 Very Bizarre 'Brexit Bonus' At PMQs | HuffPost UK Politics (huffingtonpost.co.uk)

Edited by pellinore
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1 hour ago, pellinore said:

We were the financial centre of Europe, attracting global investment.

Wrong. We still are the financial centre of Europe. The City of London is one of only 3 major International Finance Hubs on the face of the planet. Guess where the other 2 aren't? 🤔

The UK's dominance in financial services has been built up over centuries. Annoyingly for you, London is ranked Number 2 on the latest 'Global Financial Centres Index' (GFCI), which was released on 28th September 2023 - (Strange how you've deliberately never mentioned that huge nugget of positive news either eh pellinore?). 🤔

The GFCI is a ranking of the competitiveness of Financial Centres based on over 29,000 Financial Centre assessments from an online questionnaire, together with over 100 indices from organisations such as 'The World Bank', the 'Organisation for Economic Co-operation and Development' (OECD), and the 'Economist Intelligence Unit'.

Also annoyingly for you, the City of London's 2nd place position has not changed since the previous rankings were published in March 2023, and, along with Geneva (non-EU Switzerland - see aforementioned Financial Services deal between the UK & Switzerland above), is the only other European Financial Centre in the Top 10. 👇👇👇👇

https://www.longfinance.net/programmes/financial-centre-futures/global-financial-centres-index/gfci-34-explore-the-data/gfci-34-rank/

Edited by Destination Unknown
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It has always amused me that the average Brexiter knows more about economics than actual economists. You know, people who have studied economics all their lives.

They are experts in politics, too. They know with certainty the EU is going to break-up and they also know with certainty it will become a 'Superstate'. It is going to do both of these things "any time soon" (the Express always says it is going to break up "next week" and has been saying this for years). They never say in which order, though- will it become a Superstate then break up, or break up and then become a Superstate?

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1 hour ago, pellinore said:

It has always amused me that the average Brexiter knows more about economics than actual economists. You know, people who have studied economics all their lives.

You mean actual economists from the article that you yourself linked, who point to long-standing problems with the British stock market that go back decades, which was whilst we were in your beloved EU, and long before Brexit was even a word? 🤔

Economists such as Xavier Rolet, the former chief executive of the London Stock Exchange, who says in the article you linked that the trends towards a slimmer stock market were already in train long before Brexit, and a result of political decisions taken by UK governments over many years? 🤔

Or how about economist Martin Gilbert, former chief executive of FTSE 100 fund manager 'Aberdeen Asset Management', who says in the article, quote: "I'm not convinced it is because of Brexit. Structural, systemic changes in the portfolios of pension funds had the biggest effect. It's just the cycle and it's nothing to do with Brexit."

Or Citi UK chief executive Tiina Lee, who says in the article, quote: "This is not a Brexit issue. This has been in the making for the last 25 years. There has been a process where risk minimisation has really taken hold in the UK and 25 years on there’s been a massive de-equitization of the market."

 

1 hour ago, pellinore said:

They are experts in politics, too. They know with certainty the EU is going to break-up and they also know with certainty it will become a 'Superstate'.

Well it seems that former Italian Prime Minister and former President of the European Central Bank (Super) Mario Draghi knows with certainty it will either break up, or become a 'Superstate' - (Note: This is also from the Telegraph, you know, the exact same Telegraph that you yourself is claiming above is now the gospel of truth and should be taken as such 🤔). 👇👇👇👇

https://www.telegraph.co.uk/world-news/2023/12/01/mario-draghi-european-union-single-megastate-italy/

Edited by Destination Unknown
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@pellinore

“all because a few loonies are afraid of our own continent, Europe.”

good quote!

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14 hours ago, Destination Unknown said:

Here we go again. EU shill pellinore deliberately going out of his way to post negative news. Strange how you never go out of your way to post positive news eh pellinore?

For instance, a major Financial Services deal was signed between the UK and Switzerland just a few weeks ago. The deal is admitted - even by ardent EU supporters - to be far better than what the EU has in place with Switzerland, and could not have been signed whilst we were EU members.

So why were you not proudly shouting this major postive news from the rooftops then pellinore? 🤔

Strange how it's only negative news that you proudly shout about, whilst quite obviously deliberately ignoring anything positive. It's as if you've got a one-sided agenda. 🤔

Anyone would think that you don't actually want to see a post-Brexit UK (your own country) doing well outside of the EU. 🤔👇👇👇👇

https://financefeeds.com/uk-and-switzerland-sign-berne-pact-for-open-access-to-financial-services/

Negative news is still the truth, regardless of who posted it. 

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21 minutes ago, Unusual Tournament said:

@pellinore

“all because a few loonies are afraid of our own continent, Europe.”

good quote!

Except it's not true. Europe is a continental region consisting of around 50 countries, whilst the EU is a political institution consisting of just 27 of those European countries, so why on earth would I be afraid of the European continent, when it's you loonies that are obviously confusing the continent of Europe with a political institution, not me? 🤦👇👇👇👇

https://www.nationsonline.org/oneworld/europe.htm

 

20 minutes ago, Unusual Tournament said:

Negative news is still the truth, regardless of who posted it.

Equally, positive news is still the truth, but I've noticed he never posts that does he. Like I said, it's as if he's got a one-sided agenda, and anyone would think that he doesn't actually want to see a post-Brexit UK (his own country) doing well outside of the EU, which obviously he clearly doesn't. 🤔

Edited by Destination Unknown
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10 minutes ago, Destination Unknown said:

Except it's not true. Europe is a continental region consisting of around 50 countries, whilst the EU is a political institution consisting of just 27 of those European countries, so why on earth would I be afraid of the European continent, when it's you loonies that are obviously confusing the continent of Europe with a political institution, not me? 🤦👇👇👇👇

https://www.nationsonline.org/oneworld/europe.htm

 

Equally, positive news is still the truth, but I've noticed he never posts that does he. Like I said, it's as if he's got a one-sided agenda, and anyone would think that he doesn't actually want to see a post-Brexit UK (his own country) doing well outside of the EU. 🤔

The UK is part of European every sense. 
 

you know, Destination Unknown, you just can’t sugar coat the death sentence UK agriculture has been given by Brexit. Subsidies are gone, markets are closed and deals to divert UK agriculture just haven’t materialised. You can’t blame @pellinore for pointing out the obvious 

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2 minutes ago, Unusual Tournament said:

The UK is part of European every sense.

Yes, and so are 22 other non-EU countries as well, so what's your point exactly? 🤦👇👇👇👇

https://www.nationsonline.org/oneworld/europe.htm

 

3 minutes ago, Unusual Tournament said:

you just can’t sugar coat the death sentence UK agriculture has been given by Brexit.

Try telling that to Dutch farmers, who have been protesting against their Government's plans to buy up and close down 3,000 farms in order to comply with the EU's rules on reducing nitrogen emissions. The perfect example of creeping EU overreach. Or how about Irish farmers, who have been protesting against their Government's plans to cull 200,000 cows, again, in order to comply with European Union emissions standards?

https://www.beefcentral.com/news/irish-farmers-protest-plans-to-cull-200000-cows-elon-musk-weighs-in/

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42 minutes ago, Unusual Tournament said:

Negative news is still the truth, regardless of who posted it. 

It is ridiculous. Because I actually care about the UK, unlike the lunatics in the present government who are wrecking our economy, stoking the culture wars, and increasing the divide between the small percentage of the very wealthy and the greater numbers of people living hand-to-mouth, the like of Unknown Destination labels me a traitor! They have been gas-lighted so well, they now hold completely contradictory thoughts: Brexit is great vs Brexit was never delivered or has failed because of Remoaners, the Blob, etc; we have Taken Back Control of our Borders vs immigration is hugely increased because of Leftie Lawyers; it was never about the economy vs the UK is booming; we will have a fantastic deal with the US vs we don't need the US anyway.

But I admit the one that amuses me most is that we left the EU because we did not want to be part of a Superpower, and anyway, the EU will soon break up, so it is just as well we did. It's like kids in a playground: "I'm glad you don't want me to be your boyfriend because you're ugly anyway! And I would have broken up with you first if I had thought of it!"

 

Edited by pellinore
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Just now, Destination Unknown said:

Yes, and so are 22 other non-EU countries as well, so what's your point exactly? 🤦👇👇👇👇

https://www.nationsonline.org/oneworld/europe.htm

 

Try telling that to Dutch farmers, who have been protesting against their Government's plans to buy up and close down 3,000 farms in order to comply with the EU's rules on reducing nitrogen emissions. The perfect example of creeping EU overreach. Or how about Irish farmers, who have been protesting against their Government's plans to cull 200,000 cows, again, in order to comply with European Union emissions standards?

https://www.beefcentral.com/news/irish-farmers-protest-plans-to-cull-200000-cows-elon-musk-weighs-in/

I’m sure the brexiteers have plenty of bull crap to export to the Irish, in fact the world. It just might be the golden goose that saves the UK economy and resurrects the British empire 

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10 minutes ago, pellinore said:

But I admit the one that amuses me most is that we left the EU because we did not want to be part of a Superpower, and anyway, the EU will soon break up, so it is just as well we did.

Again pellinore, it seems that former Italian Prime Minister and former President of the European Central Bank (Super) Mario Draghi knows with certainty your beloved EU will either break up, or become a 'Superstate' - (Note: This is also from the Telegraph, you know, the exact same Telegraph that you yourself is claiming above is now the gospel of truth and should be taken as such 🤔). 👇👇👇👇

https://www.telegraph.co.uk/world-news/2023/12/01/mario-draghi-european-union-single-megastate-italy/

Edited by Destination Unknown
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27 minutes ago, Destination Unknown said:

Equally, positive news is still the truth, but I've noticed he never posts that does he.

Neither did Jacob Rees Mogg, when he was Brexit Opportunities Minister, a post which has now been abolished.

He came up with selling stuff in Imperial measures, but 99.7% of the population didn't want it. (The 0.3% who expressed no opinion were in nursing homes).

That is probably why the post has been abolished.

 

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1 minute ago, Destination Unknown said:

Again pellinore, it seems that former Italian Prime Minister and former President of the European Central Bank (Super) Mario Draghi knows with certainty your beloved EU will either break up, or become a 'Superstate' - (Note: This is also from the Telegraph, you know, the exact same Telegraph that you yourself is claiming above is now the gospel of truth and should be taken as such 🤔). 👇👇👇👇

https://www.telegraph.co.uk/world-news/2023/12/01/mario-draghi-european-union-single-megastate-italy/

If we didn't laugh, we would cry.

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11 minutes ago, pellinore said:

Neither did Jacob Rees Mogg, when he was Brexit Opportunities Minister, a post which has now been abolished.

He came up with selling stuff in Imperial measures, but 99.7% of the population didn't want it. (The 0.3% who expressed no opinion were in nursing homes).

That is probably why the post has been abolished.

 

So why didn't you post the positive news about the City of London still being ranked Number 2 on the latest 'Global Financial Centres Index' (GFCI) then eh pellinore, despite all the negative Remoaner predictions that it would lose the crown of being Europe's top financial centre after our democratically mandated exit from the European Union?

You could have easily chosen to post that positive news, but you chose not to. Why?

Equally, why didn't you post the positive news about the recent Financial Services deal that was signed between the UK and Switzerland?

You could have easily chosen to post that positive news as well, but yet again, you chose not to. Why?

Don't bother. I'll tell you 'Why' - it's because it doesn't suit your narrative does it pellinore, that's 'Why'.

Edited by Destination Unknown
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13 minutes ago, pellinore said:

As @Unusual Tournament says, we can still export comedy:

 

Very intelligent response pellinore. Those who choose to mock know they've lost the argument.

I'll ask you again, why didn't you post the positive news about the City of London still being ranked Number 2 on the latest 'Global Financial Centres Index' (GFCI) then eh pellinore, despite all the negative Remoaner predictions that it would lose the crown of being Europe's top financial centre after our democratically mandated exit from the European Union?

You could have easily chosen to post that positive news, but you chose not to. Why?

Equally, why didn't you post the positive news about the recent Financial Services deal that was signed between the UK and Switzerland?

You could have easily chosen to post that positive news as well, but yet again, you chose not to. Why?

I'll tell you 'Why' - it's because it doesn't suit your narrative does it pellinore, that's 'Why'.

Why don't you you just admit that you don't actually want the UK (your own country) to succeed post-Brexit, because you know that a successful post-Brexit UK would negate any argument you could ever possibly make for the UK to be in the EU.

You actually want your own country to fail post-Brexit. Not only do you want want own country to fail post-Brexit, you actually need your own country to fail post-Brexit, otherwise you would have to admit that you were wrong. Before admitting that, you would prefer that your own country failed, because you know that a successful post-Brexit UK would negate any argument you could ever possibly make for the UK to be in the EU. Aren't you a wonderful patriot eh. 🤔

Edited by Destination Unknown
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51 minutes ago, Unusual Tournament said:

I’m sure the brexiteers have plenty of bull crap to export to the Irish, in fact the world. It just might be the golden goose that saves the UK economy and resurrects the British empire 

As usual with those that have lost the debate, you choose to attack the messenger, and not the message.

Open your eyes and take a look at what's really going on with the farmers protests across vast swathes of EU countries. You just can’t sugar coat the death sentence EU agriculture has been given by your beloved EU. 🤔👇👇👇👇

https://www.dw.com/en/eu-farmer-protests-whats-driving-tractors-to-the-streets/a-67941730

Edited by Destination Unknown
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15 minutes ago, Destination Unknown said:

As usual with those that have lost the debate, you choose to attack the messenger, and not the message.

Open your eyes and take a look at what's really going on with the farmers protests across vast swathes of EU countries. You just can’t sugar coat the death sentence EU agriculture has been given by your beloved EU. 🤔👇👇👇👇

https://www.dw.com/en/eu-farmer-protests-whats-driving-tractors-to-the-streets/a-67941730


you have a point there. There are many factors working against an inefficient protected system. Still it’s an industry that has a future in the EU and none now in the UK. 

Yes I did lose the debate and I appreciate you pointing it out but it’s still gonna be Polish butter and French beef for you for a long time

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16 hours ago, pellinore said:

You can't get more Tory than the Telegraph. Yet even it can't help reporting on the damage Brexit is doing to our status as a financial centre. The evidence of the damage Brexit is doing is everywhere- the City; manufacturing; fishing; farming; and on our supermarket shelves with fewer foodstuffs, less variety, higher prices and often sold on their sell-buy date; and much higher permanent immigration. And all because a few loonies are afraid of our own continent, Europe.

Just before 8am on Tuesday morning, around a dozen top bankers trudged into Number 11 Downing Street to solve a pressing problem.

The London stock market, a beacon of Britain’s standing in the world, is rapidly losing its status as a global centre for raising new capital.  

Companies that once jetted into Heathrow to tap London’s vast pools of money are slowly fleeing to the US or into the arms of private equity buyers. Even those who are already listed here are starting to flee.

The London stock market just endured its quietest year since 2010, according to EY, while investors have continued to remove billions from UK equity funds.

Brexit fallout finally dawns on London’s stock market (msn.com)

If we lift the Russian sanctions and give them their yachts back they will return!

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The biggest proponent of Brexit on the UM forum was @steve winn who hasn't been seen since Brexit started dragging the UK economy down.  Must be an indication. 🙂

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18 minutes ago, Black Red Devil said:

The biggest proponent of Brexit on the UM forum was @steve winn who hasn't been seen since Brexit started dragging the UK economy down.  Must be an indication. 🙂

Perhaps he realised the old saying is true :-  “It's hard to win an argument with a smart person. It's damn near impossible to win an argument with a stupid person.”

Besides, could be any number of reasons he stopped posting. 

Edited by itsnotoutthere
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9 hours ago, itsnotoutthere said:

Perhaps he realised the old saying is true :-  “It's hard to win an argument with a smart person. It's damn near impossible to win an argument with a stupid person.”

Besides, could be any number of reasons he stopped posting. 

Nice.  I'm assuming the saying goes also for the xenophobic conservatives who are convinced Britannia will rule the waves again because Europe and the world needs Britain, not the other way around?

Edited by Black Red Devil
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