A key aspect of the British Empire shrinks as London's standing as a source of capital dries up.
The relative scale of ASX and LSX mining sectors:
‘‘The ASX boasts a significantly larger presence in the mining sector compared to the LSE,’’ it said, noting the 700 Australian-listed metals and mining companies had an aggregate market capitalisation of $US300 billion.
‘‘In contrast, the LSE lists 48 metals and mining companies, which account for approximately 5.5 per cent of the total companies listed on the LSE, with an aggregate market capitalisation of approximately $US205 billion.’’
ASX-listed metals and mining companies have raised $US28 billion since 2020, compared with $US830 million in London, the report said.
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RIO's enduring 18% discount LSX/ASX is too wide to be tolerated.
On which party does the cost of value uplift in capital equalisation fall? Not London?
Ash
(20min delay)