Paris is catching up with London, and it may be ‘just the beginning’

London is no longer Europe's largest stock market. That prize went to Paris. In the City podcast this week David Merritt talks with reporter Joe Easton, who has been closely following the stock market race for a long time. Before the Brexit vote, in 2016 British stocks were collectively worth $1.5 trillion more than French stocks. The French stock market is now worth $2.823 trillion, just ahead of the British market, which is valued at $2.821 trillion.

This is another sign of Britain's shrinking sphere of influence in global finance. Thus, such signals indicate that continental competitors are likely to take over her position. The reason for this is not only due to certain problems that Britain has to deal with after Brexit - there is also credit to France itself. Thanks to the presidency of Emmanuel Macron, France has managed to achieve some sort of financial stability.