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Ryanair To Drop Listing

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Added 3 years ago by admin

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The post-Brexit world has not been kind to many British and Irish businesses. Ryanair ($RYAAY@Ireland) is the latest to suffer the consequences of what many say is an economic blunder the likes of which the modern world hasn’t seen. Trading volumes are falling in London for Ryanair, and it might delist itself in the next few months. Brexit has forced EU ownership of the airline to fall below 50%. Plus, Ryanair CEO Michael O’Leary said that the “European Commission wants us to be seen to be taking action.” In addition to serving a major blow to Ryanair’s ability to raise capital, delisting the stock tarnishes London’s reputation as the financial capital of Europe. London has already suffered major blows like the loss of BHP as the firm dropped its London listing so that it could focus on its Sydney listing. The London Stock Exchange’s main market is underperforming, and European stocks have been outpacing that and the FTSE by around 9 points this year. A trader at a London brokerage said, “Many firms may be looking at the FTSE and the sheer underperformance and the high costs involved in listing here.”

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