The London Stock Exchange is showing renewed strength as global energy and metals giant Metlen moves its primary listing to the UK, marking a major stock market bounce back amid post-Brexit challenges. CEO Evangelos Mytilineos said the UK is once again becoming a leading financial hub for listings, showing promise for the broader economic growth forecast.
London’s IPO Appeal Strengthens
Speaking to the BBC, Mytilineos praised the London Stock Exchange as a top destination for share listings, citing cultural alignment and investor confidence. Metlen, valued at over £5 billion and employing nearly 10,000 people in 40 countries, completed one of the fastest inclusions in the FTSE 100 after moving its listing from Athens to London.
Despite concerns about UK firms like ARM Holdings and Flutter moving abroad, Mytilineos said the London Stock Exchange IPO landscape is improving. He argued that rival markets like Frankfurt and Paris failed to surpass London’s appeal, signaling a long-awaited recovery in the city’s financial reputation.
High Energy Costs Still a Challenge
However, Mytilineos expressed concern about rising energy prices in the UK and Europe, saying they have hurt industrial competitiveness. “The situation with energy costs in the UK and Europe is not viable,” he warned. As president of Eurometaux, he noted that many electro-intensive businesses had collapsed in recent years due to unaffordable energy prices.
While supporting the green transition, Mytilineos urged honesty about the cost of major energy infrastructure investments. He said policymakers must clearly communicate how much the transition will cost households and industries.
A Call for Realistic Energy Policies
The CEO emphasized that economic growth depends on balancing green goals with affordability. He warned that political backlash against costly environmental policies could grow if the public isn’t properly informed. “We need a realistic debate on what societies can afford and how we can achieve our goals,” he said.
Despite challenges, Mytilineos remains optimistic about UK–EU cooperation on trade and tariffs, suggesting relations are improving thanks to shared interests in defense and industry.
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This story was first reported by BBC. Read the full article here.
