The London Stock Exchange is shrinking – but Julia Hoggett is still an optimist

cityam

Aug 11

Julia Hoggett said we should not 'talk ourselves down' The London Stock Exchange’s two flagship indexes are trading near all-time highs. But beneath the surface, it has been another testing year for ...

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But beneath the surface, it has been another testing year for ...</p>\n\n<a href=\"https://www.cityam.com/the-london-stock-exchange-is-shrinking-but-julia-hoggett-is-still-an-optimist/\">Source Link</a>\n\n</div>\n","source":"cityam_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The London Stock Exchange is shrinking – but Julia Hoggett is still an optimist</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe London Stock Exchange is shrinking – but Julia Hoggett is still an optimist\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-08-11 18:32 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cityam.com/the-london-stock-exchange-is-shrinking-but-julia-hoggett-is-still-an-optimist/><strong>cityam</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Julia Hoggett said we should not 'talk ourselves down' The London Stock Exchange’s two flagship indexes are trading near all-time highs. But beneath the surface, it has been another testing year for ...</p>\n\n<a href=\"https://www.cityam.com/the-london-stock-exchange-is-shrinking-but-julia-hoggett-is-still-an-optimist/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4582","symbol_name":"ESG ETF-MSCI","start_time":0,"source_url":"https://www.cityam.com/the-london-stock-exchange-is-shrinking-but-julia-hoggett-is-still-an-optimist/","article_id":"2658994005","we_media_id":null,"thumbnails":["https://www.cityam.com/wp-content/uploads/2026/08/Julia-Hoggett-London-Stock-Exchange-CEO.jpg?w=286&h=161&crop=1"],"rights":{"source":"cityam_highlight","url":"https://www.cityam.com/the-london-stock-exchange-is-shrinking-but-julia-hoggett-is-still-an-optimist/","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2658994005","pubTimestamp":1786444364,"columns":[],"sourceInfo":{"source_id":"cityam_highlight","name":"cityam"},"weMediaInfo":null,"summary":"Julia Hoggett said we should not 'talk ourselves down' The London Stock Exchange’s two flagship indexes are trading near all-time highs. But beneath the surface, it has been another testing year for the capital’s bourse. Boss Dame Julia Hoggett tells Ali Lyon what she is doing to disprove the doomsters.In the cavernous foyer of London’s historic stock exchange, a giant cube is flashing green.The FTSE 100, it reveals, is on the cusp of surpassing the record it struck back in February, before Donald Trump’s war in Iran sent oil prices skyward and stocks in the opposite direction. The FTSE 250, for years the unloved sibling of its shiny big brother, is also sitting pretty on a fresh high. Even the ever-embattled junior market, Aim, is six per cent higher over the first week of August.But as Dame Julia Hoggett decelerates into her sixth August running the bourse – a crucial month for reflection and contemplation, she says – the City grandee knows that those ostensibly healthy signs are a m","collect":0,"end_time":0,"defaultTopTitle":"cityam.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4582":"ESG ETF-MSCI","FLGB":"Franklin FTSE United Kingdom ETF"},"translate_title":"伦敦证券交易所正在萎缩——但朱莉娅·霍格特仍然是乐观主义者","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"FLGB":1.5},"content_text":"Julia Hoggett said we should not 'talk ourselves down' The London Stock Exchange’s two flagship indexes are trading near all-time highs. But beneath the surface, it has been another testing year for the capital’s bourse. Boss Dame Julia Hoggett tells Ali Lyon what she is doing to disprove the doomsters.In the cavernous foyer of London’s historic stock exchange, a giant cube is flashing green.The FTSE 100, it reveals, is on the cusp of surpassing the record it struck back in February, before Donald Trump’s war in Iran sent oil prices skyward and stocks in the opposite direction. The FTSE 250, for years the unloved sibling of its shiny big brother, is also sitting pretty on a fresh high. Even the ever-embattled junior market, Aim, is six per cent higher over the first week of August.But as Dame Julia Hoggett decelerates into her sixth August running the bourse – a crucial month for reflection and contemplation, she says – the City grandee knows that those ostensibly healthy signs are a mere subplot of the London Stock Exchange’s story in 2026.\n\nThis year, the protracted flow of companies leaving the exchange has swollen into a flood, and the trickle of companies replacing them – as if in response to the uncompromising heat pounding Paternoster Square outside – has dried up almost entirely.\n\n\n\n\n\n\nNews Updates\nStay ahead with our three daily briefings delivering all the key market moves, top business and political stories, and incisive analysis straight to your inbox.\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nThe London Stock Exchange’s famous ‘orb’The London Stock Exchange’s testing 2026More than 30 companies have already left or are poised to leave London’s main market so far this year. Factor in Aim, and the number is even higher. Some departing firms are pursuing a listing elsewhere, while a handful of smaller firms just want to rid themselves of the hassle of public market life.But – overwhelmingly – they are being plucked off by foreign rivals or investors. Notable departures include investment giant Schroders, bought by its bigger US rival Nuveen; insurance darling Beazley, which is heading to Switzerland’s Zurich; and FTSE mainstay Intertek, which was was snapped up by Swedish buyout giant EQT in June. The feeding frenzy has led grandees across the City to warn the capital’s bourse is “on life support”, being “gutted” and proving a “fertile ground for bargain hunters”.Animal spirits are in short supply and, as is always the case when things go awry, a blame game is afoot. Some hold successive governments responsible. Others say it is the fault of the City’s regulators and pensions industry. But an increasingly hard to ignore minority are also turning their fire at the LSE and Hoggett herself in their search for a fall guy. The main charge is that amid the wave of de-listings, the guardian of London’s bourse has failed to show the urgency or – to quote Octopus founder Greg Jackson – the “hustle” the situation requires.\n\nBut as she sits down for what is her first set-piece interview in over six months, that narrative of managed decline is one that the stock market’s bespectacled, softly spoken boss is, unsurprisingly, hellbent on correcting. Reports of the London Stock Exchange’s death are, in Hoggett’s eyes, greatly exaggerated.“We are third in the world at creating companies, third in the world at scaling companies,” she tells City AM. “We have the second, third, or fourth largest volume of institutional capital in the world, depending on how you count it. [And we] create more consequential research per capita than anywhere else.”To Hoggett, the dour mood plaguing the Square Mile is not so much a symptom of the ill-health of Britain’s capital markets but one of its root causes.“We need to stop throwing shade at ourselves as a nation and then being surprised if it’s a bit chilly and a bit dark and a bit damp,” she says. “Most countries in the world want exactly what we’ve got.”\n\nBut for all the executive’s talk of cynical attempts “to fit a set of facts into a narrative”, the data paint a picture that even the staunchest advocate for the stock market would find it hard to question.Uzbekistan’s national investment fund is the only notable IPO of 2026 so farIPO drought stretches into fifth yearAs if to prove the point, in the days following our interview, yet another flurry of takeover interest and delisting momentum dominated financial news. Easyjet flew off into the arms of American private markets behemoth Apollo. And on Wednesday, Bodycote – an industrials stalwart listed on the London Stock Exchange for over 50 years – disclosed two near-identical takeover bids from buyout giants CVC and Veritas.For those raising the alarm, the situation wouldn’t be as stark were there a reliable line of fresh listings coming to take the departees’ place. But since a blockbuster 2021 in which some 50 companies chose London to make their public market debut, the scale and frequency of initial public offerings (IPOs) has ground to a halt as well.So far this year, there has been just one capital-raising IPO of note: that of Uzbekistan’s national investment fund (dual-listed with Tashkent). Meanwhile, amid a barrage of international and domestic uncertainty, key candidates like Waterstones, Visma and payments firm Sumup are all said to have pushed their London debuts into 2027.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}