• In 8 out 17 financial markets US improves its share relative to Europe in 2008 while losing ground to Europe in 6; no relative change in 3 markets
• Europe’s share of 13 out of 17 financial indicators has risen relative to US over long term between 2001 and 2008
In nearly half of indicators - 8 out of 17 – the size of financial markets in the US improved relative to those in Europe in 2008. In most cases this was because US markets declined by less than those in Europe. Europe’s position relative to the US improved in 6 markets with the relative position unchanged either way in 3. These are the key findings in the annual report Financial Market Trends Europe vs. US from International Financial Services London (IFSL), the independent organisation promoting financial services throughout the world.
The largest relative gains in Europe and the US in 2008 were in those markets where each was already stronger. For Europe this included international bank lending, foreign exchange turnover and insurance premiums. While for the US it included foreign equity trading, equity market turnover and domestic bonds. Over the longer period since 2001 the picture for Europe is more positive with activity in Europe relative to the US improving in 13 out of 17 markets, with a rise in US share relative to Europe in the other 4.
Duncan McKenzie, Director of Economics at IFSL, said: “Recent trends have been slightly less favourable for financial markets in Europe but, led by London as its financial capital, Europe has the opportunity to build on its cluster of expertise”.
Click here to view pdf of report
• Europe’s share of 13 out of 17 financial indicators has risen relative to US over long term between 2001 and 2008
In nearly half of indicators - 8 out of 17 – the size of financial markets in the US improved relative to those in Europe in 2008. In most cases this was because US markets declined by less than those in Europe. Europe’s position relative to the US improved in 6 markets with the relative position unchanged either way in 3. These are the key findings in the annual report Financial Market Trends Europe vs. US from International Financial Services London (IFSL), the independent organisation promoting financial services throughout the world.
The largest relative gains in Europe and the US in 2008 were in those markets where each was already stronger. For Europe this included international bank lending, foreign exchange turnover and insurance premiums. While for the US it included foreign equity trading, equity market turnover and domestic bonds. Over the longer period since 2001 the picture for Europe is more positive with activity in Europe relative to the US improving in 13 out of 17 markets, with a rise in US share relative to Europe in the other 4.
Duncan McKenzie, Director of Economics at IFSL, said: “Recent trends have been slightly less favourable for financial markets in Europe but, led by London as its financial capital, Europe has the opportunity to build on its cluster of expertise”.
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Click here to view pdf of report
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