{"id":33067,"title":"London Stock Market: ‘Switch has now been flicked’","publisher":"Stockmark.IT","author":"Stockmark.IT Website","published":"2024-06-14T06:23:39+00:00","modified":"2024-06-14T06:23:39+00:00","canonical_url":"https://stockmark.it/london-stock-market-switch-has-now-been-flicked/","markdown_url":"https://stockmark.it/london-stock-market-switch-has-now-been-flicked.md","json_url":"https://stockmark.it/london-stock-market-switch-has-now-been-flicked.json","category":"Stockmarket","categories":["Stockmarket","Stockmarket News"],"featured_image":"https://i0.wp.com/stockmark.it/wp-content/uploads/stencil.share-talk-2024-05-14T054210.186.jpg?fit=1200%2C800&quality=89&ssl=1","format":"news","language":"en-GB","content":"Peel Hunt’s boss predicts a rebound in activity amid a’shift of sentiment’\n\nAccording to the stockbroker who predicted last year a “doomsday loop” at the exchange, the London stock market is turning a corner.\n\nSteven Fine, the chief executive officer of City Stockbroker Peel Hunt said that there were signs of improvement and declared that London’s stricken stock exchange was recovering. The exchange has struggled to attract floats, and seen an influx of companies leaving.\n\nMr Fine said, “We had 10 bad quarters of this industry… But now it’s much better than before.”\n\nHe said that a “switch” had been flipped, adding: “There’s been a change in sentiment. This is a good indicator for a recovery in activity in the next quarter.”\n\nMr Fine cited the recent floatation of Raspberry Pi by Peel Hunt as an example of improved sentiment. The shares jumped almost 40% on the first day of trading.\n\nThe London Stock Exchange Group and Haleon, which sold shares in the following months, are both evidence of the market’s health, according to Mr Fine.\n\nPeel Hunt warned last year that some parts of the market had become “stuck in a doom loop”.\n\nAs a result, fewer investors bought stocks and their prices continued to fall. The UK discount was used by overseas investors to purchase British companies on the cheap. This meant that there were fewer shares to own.\n\nPeel Hunt warned the UK index of smaller businesses could disappear by 2028, if it continued to decline.\n\nMr Fine explained that a combination better GDP figures, signs of easing inflation and expectation of falling interest rates all contributed to the improved mood on stock markets.\n\nA more stable political environment is also helpful.\n\nHe said: “They are all very good people, whether it is Sunak and Hunt or Starmer & Reeves.” They will both do a fantastic job running the country.\n\nPeel Hunt, a broker in the UK, hopes that Raspberry Pi’s floatation will revive interest among companies to tap into the stock market.\n\nMr Fine stated that the London Stock Exchange’s outflows had probably peaked.\n\nHe said, “We shot ourselves in the feet very well in this country.”\n\nPeel Hunt’s loss was greater in the period ending March 2024. The pre-tax loss was £3.3m, compared to £1.5m the previous year.\n\nStockbroking was the main culprit, with revenues falling 12pc to £29.6m . This was offset by a 39pc increase in investment banking charges to £32.6m."}