The stories you need to know about the latest financial headline spree, served with a dash of market insight

You know the drill—another week, another round of financial fireworks. Let’s cut to the chase and see where markets landed last week:

US Markets

• US stocks decided to chill out at the closing bell last Friday as investors sat tight, waiting for the Fed’s final meeting of the year. Stay tuned till next week to find out if there’s an interest rate cut on the horizon.
• The Nasdaq extended its hot streak, closing green for the fourth-straight week— put simply: tech is vibing, per usual.
• The Dow Jones slipped for a seventh-straight day, marking its ugliest streak since the Covid pandemic… a streak no one asked for.

EU Markets

• Across the Atlantic, the Stoxx 600 rallied after better-than-expected economic data brought some much needed optimism back to European investors.
• In the UK, the FTSE 100 hit its stride mid-week, buoyed by energy and consumer staples but there are some bigger phenomenon cooking in the background— more on this later in the article.
• Germany’s DAX stayed resilient after reaching an all-time high earlier this month, but signs of economic slowdown are still lingering (‘same old, same old’).

Commodities & Currencies

• Oil jumped to a three-week high on concerns over impending sanctions against oil-rich Russia and Iran. Supply constraints? Very much still a thing. Let’s see what happens.
• The US dollar flexed hard last week, and up 6.3% YTD— which puts it on track for its best year since 2015. Cash is king in 2024— if you can believe it.
• And Bitcoin is still on a stellar tear— last week, topping $106k for yet another all-time high. We’re all about it. That marks seven straight winning weeks, its longest streak since previous ATH season in 2021.

Let’s break down the big stories last week:

LSExodus: The London Stock Exchange is Bleeding Listings

The London Stock Exchange (LSE) has seen better days— 2024 is by far its worst year for listings since 2009. What’s going on? Well UK companies are skipping out on domestic listings and heading for flashier markets such as the New York Stock Exchange (NYSE) and Nasdaq.

So far this year, 30 companies have delisted from the LSE… which is a 15-year record and enough to call this what it is: an exodus. Many analysts purport that it is driven by a mix of low valuations, lackluster investor interest, and broader structural issues in the UK market. Companies are realizing they can get way way way higher valuations and better liquidity stateside.

Another issue? The UK is failing to attract new companies to replace those GTFO. Compared to the US and greater EU, London IPOs are lagging, with fundraising totals down as much as 40% this year. The regulatory environment is to blame, combined with a lack of tech-focused growth opportunities. These two accolades have made it downright difficult for the LSE to compete in the global realm.