Jeremy Hunt to fight decline of London stock market

Jeremy Hunt is set to hold a summit to attract companies to London’s stock market, it has been reported.

The Chancellor has invited the bosses of some of Britain’s most prominent private technology firms to meet on May 16 at Dorneywood, his private residence, according to Sky News.

It comes amid a dearth in London Stock Exchange listings and a slew of listed companies leaving the City.

The day-long event would target fintech and biotech entrepreneurs who could turn their firms public, sources told Sky News.

Treasury minister Bim Afolami and Rishi Sunak’s business and investment adviser Lord Petitgas will also be there, it was reported.

The invitation reportedly said that Mr Hunt will “discuss the UK’s capital markets and how they can support innovative, high-growth companies such as yours to achieve your growth ambitions”.

It went on: “The UK’s capital markets play a key role in our economy: driving growth, creating jobs and facilitating investment.

‘‘The Government is committed to ensuring that the UK remains the best place for companies to grow, and is already taking forward an ambitious programme of reforms to improve the competitiveness of the UK.”

Digital banks Monzo and Starling Bank are understood to have been invited, Sky News said.

Last week, Ocado made gains amid reports that the retail technology company has reportedly come under pressure from investors to move its stock-market listing from the capital to New York.

An HMT spokesperson said: “The Chancellor is meeting with a number of firms to hear their reflections on UK markets and what more the Government and regulators can do to support their growth.”