The boss of the London Stock Exchange has hit back at criticism of the composition of the FTSE 100 as “lazy” and “not true”.
Dame Julia Hoggett, chief executive of the exchange, said there was “not any truth at all” in the characterisation that London’s markets are outdated and unattractive to growth companies.
Asked about comments by Sir Martin Sorrell that the FTSE 100 is a “museum” because the UK’s big investors prefer traditional businesses such as miners, oil companies and consumer goods
businesses, Hoggett said: “I’ve heard that same narrative. When you dig into the detail, I don’t think it’s true at all.
“You can talk about the existing composition of the FTSE as a consequence of history versus the composition of Nasdaq, yes.
“But if you look at companies with similar trajectories in the UK and the US, there were as many trading at a higher multiple in the UK as are trading at a higher multiple in…
