London and European stock markets on a role

London Stock Exchange 

The FT reported on Tuesday that funds raised on the London Stock Exchange last year were 71% higher than the year before at £27.9bn.

There was good news from Europe too.  $24.5bn raised on Euronext, nearly 60% up on year before and $8.8bn on the Deutsche Bourse over double the 2005 figure.

December figures for the US exchanges are not out yet, but according to The Australian and others they are likely to come in less than London.

I report all this because dynamic stock markets are an important part of a well functioning ecosystem and it is good to see our progress on this front.  I couldn’t give two hoots about coming in ahead of the US apart from one thing – we are sometimes a bit in awe of Silicon Valley over here and anything that helps dismantle that is good news.

I’ve blogged before here and here that Europe is closing the gap with Silicon Valley.  To my mind this adds more weight to that conclusion.