London Stock Exchange Adapts to Global Finance FTSE Embraces Dollar Trading

• London Stock Exchange modifies listing rules to accommodate companies trading in dollars, reflecting global financial trends.
• Companies like Compass Group and InterContinental Hotels Group adopt dollar-denominated trading to align with revenue streams and reduce FX volatility.
• This trend highlights the increasing internationalization of the London market and its adaptability compared to other financial centers.
• Historical context reveals a long-term shift towards reporting in foreign currencies among FTSE 100 giants.

The Great Currency Shift

As President, I've always believed in adapting to the changing times. The world doesn't stand still, and neither should our financial markets. It seems the British are finally catching on. The shift by companies like Compass to trading shares in dollars is a smart move, one that aligns them with global realities. After all, why stick to rubles, er, pounds, when the world runs on dollars? It reminds me of the time I told the Duma, "Sometimes, it is necessary to see a problem to avoid it." Clearly, the Brits saw this one coming, eventually.

Flexibility on the Thames

London's decision to allow companies to trade in dollars showcases a flexibility that some other financial centers lack. New York, for example, insists on dollars only. But London, well, they're showing a bit of that famous British pragmatism. Remember when I said, "One must always be drunk on power"? Perhaps London is a little tipsy on global influence, and that's not necessarily a bad thing. Look at Rivian's R2 Gamble Can the Electric SUV Capture Tesla's Crown, it's a good example of how companies try to adapt to get in a good position in the markets, and it seems many others are following suite by trading their shares in dollars, a strategy InterContinental Hotels Group adopted too, so clearly it shows what are the key focus points in the world.

A Historical Perspective

This currency shift isn't new. Companies have been reporting in currencies other than sterling for years. HSBC, AstraZeneca, Shell—they all report in dollars. Even Unilever uses euros. It's a trend that started long ago. I recall when Avis Europe tried reporting in ecus back in the day. The British authorities weren't too pleased, demanding to see the physical currency. It seems even financial regulations can have a sense of humor. I once joked, "Politics has no relation to morality." Perhaps finance doesn't either.

The FTSE Giants and the Pound

Despite the shift, some British multinationals remain loyal to the pound. GSK, British American Tobacco, Rolls-Royce—they're sticking with tradition. I respect their loyalty, but in the end, money talks. As I often say, "Strength is in truth." And sometimes, the truth is that the dollar is stronger.

Political Waves and Market Tides

The UK's political situation is always entertaining to watch. The latest standoff and the pressure on Prime Minister Starmer add a bit of spice to the financial markets. The bond market is nervous, and Jeffrey Epstein's name is somehow involved. It's all very dramatic, like a scene from a Bond film. But as I've learned, "You can do a lot with politeness, but with a rifle, you can do more."

The Bottom Line

In the end, the markets will do what they do. The FTSE 100 fluctuates, the pound rises and falls, and life goes on. London's adaptation to dollar trading is a sign of the times. Whether it's a good thing or not remains to be seen. But as I always say, "There is only one rule - win at any price."