North West’s stock market value hits record £57bn

Media City in Salford

The stock market value of the listed companies in the North West of England soared £6.4 billion to a record high of £57.2 billion in the last quarter of 2019, according to latest research by Deloitte.

This represents the second largest jump in stock market value since the middle of 2015, following the £7.1 billion rise in Q1 2019.

The current total of £57.2 billion is more than double the £27.6 billion listed on London Stock Exchange in Q2 2015.

Deloitte’s North West Share Index shows the total value of the region’s businesses included in the FTSE 100, FTSE 250 and the FTSE Small-Cap indexes, and those quoted on AIM.

“In total, 46 of the 62 North West listed companies over the last quarter increased their overall value, delivering a 13 per cent rise in overall share value,” said Deloitte.

“This far outstrips the national performance, with the FTSE All Share increasing by 0.21 per cent over the same period.”

The North West’s listed technology businesses particularly flourished in Q4, increasing their total stock market value by 35%.

Chester-based GB Group plc, a global technology specialist in fraud, location and identity data intelligence, saw an increase in its market capitalization of 44%, while Manchester-based cyber security company NCC Group plc saw a 29% increase in value.

Wilmslow, Chesire-based Pets at Home plc saw a 34% rise in stock market value.

Manchester-based fashion firm Boohoo enjoyed a 12% growth in share value.

FTSE 350 and FTSE Small Cap constituents were responsible for the majority of the overall share value rise in the region, adding £4.46 billion, while smaller AIM-quoted firms added £1.01 billion in the fourth quarter of 2019.

Andy Westbrook, senior partner for Deloitte in the North West, said: “North West listed companies have seen a significant rise in overall value in Q4 which not only highlights the strength of certain sectors such as tech but also the confidence that businesses are feeling after a majority election. 

“The strength of the North West economy is clear with a 13 per cent rise in overall value in comparison to the 0.21 per cent national average, showing the strong performance of businesses throughout all sectors across the region and the importance of the economy outside of London.”

Bod Buckby, Head of UK Primary Markets – North, London Stock Exchange, said: “That the market cap of companies from the North West on our London markets has doubled over the last five years is a positive indicator of the health of businesses in the region and their appetite for access to public capital markets.

“These businesses continue to play a key role in driving jobs, innovation and growth in the UK economy. London Stock Exchange is dedicated to supporting North West businesses across all sectors and helping them access the long-term capital needed to achieve their potential.”