LSE is still favourite for foreign equity trading

<div>LONDONA has maintained its edge in international equity trading despite last year&rsquo;s economic turmoil, the International Financial Services London (ISFL) said yesterday.<br />&nbsp;</div>
<div>There were 681 foreign companies listed on the London Stock Exchange (LSE) at the end of 2008, outstripping peers like the NYSE, which boasts 415 foreign firms and the Nasdaq, which has 336.<br />&nbsp;</div>
<div>And more than a quarter of the firms who launched initial public offerings in 2008 chose to do so on the LSE.<br />&nbsp;</div>
<div>However, due to unprecedented market volatility, the total value of UK main market firms fell by a third to &pound;1,288bn in 2008.<br /><br />The recession and lack of confidence also saw the amount raised by new flotations fall by a third to &pound;7.2bn. &nbsp;<br />&nbsp;</div>
<div>But the increase in the number of companies tapping shareholders to bolster damaged balance sheets saw the amount raised from secondary issuances reach record levels of &pound;63.7bn in 2008, up from &pound;19.1bn in 2007.&nbsp;</div>