A growing list of firms are abandoning the London Stock Exchange in favour of overseas rivals.
Glencore, a £40 billion mining giant, is considering moving its primary stock market listing from the London Stock Exchange (LSE) to the United States, potentially marking the largest company to leave the LSE. This follows recent trends where companies like Flutter and Ashtead have shifted their primary listings to New York. Glencore, which was the LSE's largest listing when it joined 14 years ago, reported a $1.6 billion loss in 2024. CEO Gary Nagle stated that while Glencore is satisfied with the LSE, they are evaluating other exchanges, including the NYSE, for better suitability. Despite a share decline over the past year, Glencore's shares have risen over five years. The move, influenced by valuation, regulations, and visibility, could further impact the LSE's standing as a major market hub.
