Wall Street Journal (February 12)
“Stand in the middle of the business district of any big U.S. city and the nearby buildings are emptier and a lot less valuable than they were four years ago. Listed office real-estate investment trusts have already faced the music: The S&P 500 Office REITs Sub-Industry Index has roughly halved in value since before the pandemic. The reality check for banks is just beginning.”
Tags: Banks, Buildings, Business district, Emptier, Halved, Listed, Office REITs, Pandemic, Reality check, S&P 500, U.S., Valuable
Investment Week (July 25)
“Excluding investment companies and international companies whose London quote was secondary, 1,180 companies were listed on the LSE as of the last day of trading in May 2022, down from 1,349 in May 2019.” During the first half of 2022, “the number of companies floating on the LSE also fell drastically…with just 26 companies debuting, marking a 45% decline compared to the first half of 2021. The UK was not alone. Global IPO activity was poor, with the number of deals falling to 46%.”
Reuters (September 3)
“Publicly listed family-owned firms, defined as those where the founder of their family owns 20% of shares or votes, returned 3 percentage points more than non-family owned stocks during the virus-struck first half of 2020.” It might be a coincidence, “but the same thing happened after the last crisis…. The effect persists across sectors, regions and company size,” perhaps because the firms have less debt and invest more in R&D.
Tags: 2020, Crisis, Debt, Family-owned, Founder, Listed, R&D, Regions, Sectors, Shares, Size, Stocks, Virus
Financial Times (August 25)
“The US stock market this week reached twin landmarks: an all-time high, and the longest bull run in history. Yet it is shrinking…. The tally of listed domestic companies in the US has almost halved from 8,090 in 1996 to 4,336 last year.”
Wall Street Journal (July 28)
When China’s roller-coaster stock market plunged downward in early July, “the Communist Party responded with every measure conceivable to fix the market.” This included the suspension of trading. “At one point in the middle of July 97% of all listed companies’ shares were not trading, 51% because management had sought a suspension and 46% because the share prices were down by the 10% daily limit.” On July 27, the Shanghai Composite took its biggest tumble ever, but this downswing “may be good news. Monday’s drop was due in large part to investor fears that the government is pulling back on market support. If Beijing has learned from its failure to prop up stock prices, that could mean the market finds a bottom.”
Tags: Bottom, China, Government, Listed, Market, Shanghai Composite, Shares, Stock market, Support, Suspension, Trading
