Company’s exit would deal another blow to City’s status as home to listed mining groups
If you want diamonds, head down to London’s Hatton Garden. For musical instruments, you need to go a mile or so further west to Denmark Street. And if you want to invest in a mining company, the London Stock Exchange has historically been one of world’s top destinations. For years, the market built its reputation as the home of an array of global natural resources companies.
Valuations play a part, as they have for the numerous other UK-listed companies that have decided recently that they would rather have their shares traded elsewhere. In a note earlier this month, analysts at investment bank Liberum found that mining companies in the UK trade at much steeper discounts to their US peers than companies in other sectors. Their higher exposure to the slowing Chinese economy is one of the reasons, according to Liberum analyst Joachim Klement.
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