Stock market chief pinning her hopes on a City listings growth

The head of the London Stock Exchange yesterday said there was a ‘strong cause for optimism’ in the City as companies worth billions of pounds look at listing in the UK.

Julia Hoggett said there was ‘no sense of panic’ after a recent exodus led to anguished soul-searching about London’s future as a global financial centre.

Instead, hopes are rising that after a prolonged winter for the London market, spring is at last arriving, with a series of flotations from fashion giant Shein to retailer Boots that could help it burst back into life.

Chancellor Jeremy Hunt yesterday met executives as part of efforts to revive City fortunes. 

An upbeat Hoggett told the BBC: ‘We’ve got all the fundamentals here in London. I see a strong cause for optimism.’

Confident: LSE boss Julia Hoggett (pictured) said there was ‘no sense of panic’ after a recent exodus of companies that has led to anguished soul-searching about London’s future

She has been a prominent figure in the fight to revive London’s status following bitter blows, such as Cambridge chip giant Arm Holdings deciding to float on Wall Street.

Then gambling group Flutter and travel operator Tui abandoned the UK to list overseas while other firms, such as cybersecurity firm Darktrace, have been snapped up on the cheap by foreign predators.

Today, mining giant Anglo American is being eyed by Australia’s BHP and even Shell has flirted with leaving London.

But with the FTSE 100 roaring to all-time highs in recent days, investors realise there are bargains to be had.

Chinese-founded online fashion giant Shein looks increasingly likely to announce a £60billion London float, while Anglo is on course to spin off its diamond business De Beers for £4billion.

The UK could also be boosted by the £15billion separation of Unilever’s ice cream business – though Amsterdam and New York are in the running.

Meanwhile, British tech firm Raspberry Pi has confirmed plans for a £500million float in London and there is speculation over a possible £7billion listing for Boots. 

Also likely to spur interest will be the public sale of a chunk of the Government’s stake in NatWest – expected within weeks – which could see investors lured by the suspension of stamp duty on shares.

Russ Mould, investment director at AJ Bell, said: ‘Doom-sayers have not stopped the FTSE 100 from setting new all-time highs. 

Now there seems to be more interest in the wider UK equity market, it is no surprise that more firms are looking to list in London, as it still has much to offer.’

But there may be more work to be done, with figures showing billions still being pulled out of UK equity funds.

And reforms are being put in place to try and bring buyers such as pension companies back to the market.