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Could Cardiff be stocks and shares centre?

CARDIFF could have its own stock exchange - if a Cardiff-based academic's research is put in place.

Professor Robert Huggins, of Uwic's Cardiff School of Management, is investigating the possibility of creating a stock exchange for Welsh companies to list themselves on.

His research, which is being funded by the Welsh Assembly Government The Welsh Assembly Government (WAG) (Welsh: Llywodraeth Cynulliad Cymru, LlCC) was firstly an executive body of the National Assembly for Wales, consisting of the First Minister and his Cabinet from 1999 to 2007. , will look at how small countries around the world operate stock exchanges as well as how such an exchange could practically work.

There are about 20 Welsh companies listed on the London Stock Exchange For lists of companies traded on the London Stock Exchange see
  • FTSE 100 Index
  • FTSE 250 Index
  • FTSE 350 Index
  • FTSE All Share Index
See also
  • Alternative Investment Market
, most on the junior Alternative Investment Market rather than the main exchange. Wales' only blue chip company is Admiral Insurance, which was added to the FTSE 100 index FTSE 100 Index

A market-weighted index of the 100 leading companies traded in Great Britain on the London Stock Exchange. The Financial Times
 of the UK's leading shares earlier this year.

Prof Huggins said flotation on the London exchange was often too expensive for companies in Wales, with entrepreneurs often not seeing the benefits for their business in going public.

He said: "Wales has a paucity of companies listed on the London Stock Exchange, and the capitalisation of those companies listed there is relatively low. Companies in Wales are not really getting capital from a private market because venture capital statistics are just as low.

"The London Stock Exchange London Stock Exchange

London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses.
 has become increasingly internationalist in recent years and I'm not sure it's really serving the UK and the UK regions outside the south-east of England that well."
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Publication:South Wales Echo (Cardiff, Wales)
Geographic Code:4EUUK
Date:Nov 1, 2008
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