Trading In London’s Blue Chip Stocks Is Surging — in New York
Volumes of American Depositary Receipts are up more than 80% since 2019
Stock price information displayed in the London Stock Exchange Group's office atrium.
Photographer: Chris Ratcliffe/BloombergLondon’s stock market is in what looks like a constant battle to stop company defections to the US, shrinkage from take-private deals and declining initial public offerings.
It got fresh reason to worry this week when drugmaker AstraZeneca Plc said it was beefing up the status of its shares in New York. But behind such dramatic headlines, other numbers capture the City of London’s long-term challenges and the threat posed by its transatlantic rival.