Wednesday 16 October 2019

LSE to host first ever 'Ireland Day'

Thomas Molloy

The London Stock Exchange will host an 'Ireland Day' on the same day that former British Prime Minister Margaret Thatcher is buried this week.

Ireland Day is due to be attended by 120 business leaders from Ireland and elsewhere. It will be kick-started on Wednesday by Goldman Sachs International chairman Peter Sutherland and billionaire investor Dermot Desmond.

The two men will ring the opening bell to start trading along with Julian King, who is a former UK ambassador to Ireland and the director general of the Northern Ireland Office.

There are 25 Irish companies operating on the London Stock Exchange's main market with a market cap of €45.9bn and a further 30 Irish companies listed on the junior Alternative Investment Market with a total value of €2.5bn.

Irish firms raised almost €8.2bn in capital on the LSE between 2006 and 2012.

Wednesday's event also seeks to highlight the investment of British companies here and trade links between the two countries. FTSE 100 companies own, or partly own, 771 businesses in the Republic.

Ireland imports more goods from Britain than the rest of Europe combined. The UK is also Ireland's largest export market after the US.

The event will take place on the same day that the late Mrs Thatcher will be buried in a state funeral in London.

Irish Independent

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