Sponsored by 2019 2019 1 2 CONTENTS A world-leading IPO market FOREWORDS FTSE 100 OVERVIEW 5 FTSE 100: 9 FTSE 100 – did you know? London’s global benchmark 10 FTSE 100 Companies in 1984 Nikhil Rathi CEO, London Stock Exchange Plc 7 Supporting enterprise 79 £36bn and growth in the UK Jes Staley IPOs on LSE in 2018, the highest in Europe, A total £36bn equity capital was raised Group Chief Executive, Barclays raised £9.5 billion. in London in 2018 through IPOs and follow on issuance. SECTORS 11 Basic Materials 95 Industrials 53 3⁄5 25 Consumer Goods 119 Oil & Gas 21 IPOs and a further 32 introductions and London’s IPOs became even more international new listings from international companies. in 2018, with 3⁄5 of the top IPOs by size coming 39 Consumer Services 119 Technology from outside of the UK. 63 Financials 123 Telecoms 87 Healthcare 127 Utilities 21 tech 36 INDEX This is a five-year high for the sector AIM is the most successful growth market and we have seen more tech IPOs (21) on in Europe with 36 AIM IPOs. 135 Index of Companies London Stock Exchange than any other European exchange. To find out more please contact us at [email protected] or visit An official publication of London Stock Exchange Group © London Stock Exchange Group 2019. All rights reserved www.lsegissuerservices.com 10 Paternoster Square, London EC4M 7LS 13 4 FTSE 100: LONDON’S GLOBAL BENCHMARK The UK has always been at the forefront of financial innovation, bringing UK and international companies and investors together to raise and invest capital efficiently. Firms from 100 countries are listed on London Stock Exchange and the FTSE 100 index is seen as the global benchmark for blue-chip firms listed on our markets. An index tracks the performance of a basket of securities and is increasingly used by investors to issue investment products, such as exchange traded funds (ETFs), and to measure performance. Enabling Created by FTSE Russell over 30 years ago, indexes, which track alternative strategies rather the FTSE 100, as its name suggests, tracks the than the traditional market-cap weightings. performance of the 100 largest eligible companies listed on London Stock Exchange ranked in order Through London, global blue-chips are looking by their market capitalisation. When the FTSE 100 outwards whilst securing strong inward investor support. Deep market liquidity provides them Nikhil Rathi thriving first launched, the combined value of companies was around £160 billion, but today this stands at with increased access to long-term capital, CEO, London Stock over £2 trillion – a testament to the growth of our allowing them to innovate, grow and create jobs. Exchange Plc global capital markets. This is a clear demonstration of international investor confidence in UK plc. And more broadly, Constituents of the index operate in more deep and liquid capital markets reduce the cost markets, than 150 countries around the world and of investment capital and global clearing liquidity more than two thirds of their revenues are pools cut the cost of regulatory capital. generated overseas, with the ability to report in a wide variety of currencies including US Dollars. The FTSE 100 complies with the highest They represent diversified sectors too, operating governance standards, with rule-based together. across more than 10 sectors with consumer methodologies and independent governance services and financials leading the way. committees. Making sure that indexes serve Global household names include Barclays, their users – that they are constructed with BP, Diageo, Easyjet, and Legal & General. transparency, objectivity and integrity – is crucial. Like most financial innovation, the growth Public awareness of indexes is at an all time of indexes was born out of customer demand. high and has become a key component of Today some $15 trillion in global assets under financial market infrastructure. The FTSE 100 management are benchmarked to FTSE Russell remains the UK’s globally recognised benchmark. indexes and the Group provides data and FTSE 100 constituents have embraced innovative analytics tools in addition to the thousands new strategies, fostered global outlooks and of indexes that they calculate daily. driven economic success in the UK and in the countries in which they operate. We look Passive investment in equities has risen by almost forward to welcoming the company leaders 400 per cent in the last twenty years, an approach of tomorrow from across the world seeking increasingly deployed by investors both large and to achieve the FTSE 100’s aspirational status. small. In turn, it has also led to the emergence of more bespoke indexes, such as those screening lseg.com constituents linked to environmental, social and governance (ESG) factors and ‘Smart-Beta’ 5 6 Supporting businesses SUPPORTING that build the future We’re proud of our steadfast partnerships with visionary ENTERPRISE AND businesses. Financial solutions tailored to business needs are essential for growth. Whether it’s through GROWTH IN THE UK strategic advice, capital raising or risk management, companies can ignite growth with Barclays. barclays.com/ib The history of Barclays and the history of London have been intertwined for over 325 years. As the City has developed into one of the world’s leading financial centres and the most sophisticated and liquid capital market in Europe – embodied by the London Stock Exchange – Barclays has grown to be the British universal bank bridging the world’s great financial centres in London and New York. I’m delighted that our close advisory relationship with the LSE continues to go from strength to strength. The foundation of London’s success is the rich ecosystem of expertise and innovation in all aspects of financial services, from advisory and governance to leading edge fintechs. London discovered the power and resilience of these networks early, and Jes Staley they remain central to its continued success in uncertain times. And because the Group Chief Executive, City of London is a truly global financial services powerhouse, it gives the UK as a Barclays whole a powerful competitive advantage: easy access to world-class financial services and to the capital markets that will power the innovation and growth of the future as surely as access to coal and steel powered Britain’s first industrial revolution. We are committed to playing our full part in ensuring that the UK continues to thrive – our future depends on it. That’s why alongside our support for small and large businesses across the UK, we’re also equipping millions of people with the skills they need to succeed in a changing economy and working across communities to understand what help and support they need to thrive. We are optimistic about the future for the UK, for the City and we look forward to continuing to support our customers and clients around the world, including the LSE, as we have always done. Barclays offers investment banking products and services to its clients through Barclays Bank PLC. Barclays Bank PLC is authorised in the United Kingdom by the UK Prudential Regulation Authority and UHJXODWHGE\WKH8.)LQDQFLDO&RQGXFW$XWKRULW\DQGWKH8.3UXGHQWLDO5HJXODWLRQ$XWKRULW\DQGLVUHJLVWHUHGLQ(QJODQG1R5HJLVWHUHG2IÀFH&KXUFKLOO3ODFH/RQGRQ(+38QLWHG.LQJGRP %DUFOD\VXQGHUWDNHVLWV86VHFXULWLHVDQGLQYHVWPHQWEDQNLQJEXVLQHVVLQWKHQDPHRILWVZKROO\RZQHGVXEVLGLDU\%DUFOD\V&DSLWDO,QFDQ6,3&DQG),15$PHPEHU%DUFOD\V$OOULJKWVUHVHUYHG%DUFOD\V LVDUHJLVWHUHGWUDGHPDUNRI%DUFOD\V3/&XVHGXQGHUOLFHQVH 7 8 FTSE 100 – DID YOU KNOW? FTSE 100 COMPANIES IN 1984 FTSE 100 INDEX ORIGINAL FTSE 100 COMPANIES FTSE 100 MARKET CAP QUARTERLY REVIEW COUNTRIES WAS LAUNCHED ON Allied-Lyons ICI Associated British Foods Imperial Continental Gas 3RD JANUARY 1984 Associated Dairies Imperial British American Tobacco Johnson Matthey £2tn+ BICC Ladbrokes OVERALL MARKET CAP BOC Land Securities 150+ COUNTRIES WHERE BPB Industries Legal & General FTSE 100 COMPANIES * BTR Lloyds Bank OPERATE £160bn Barclays MEPC Barratt Developments MFI Furtniture Bass Magnet & Southerns MARKET VALUE NEEDED Beecham Marks & Spencer Berisford Midland Bank TO ENTER THE INDEX Blue Circle Industries National Westminster Bank Boots Northern Foods THEN AND NOW British Aerospace Pearson (S) & Son £100m British & commonwealth Shipping Peninsular & Oriental Steam British Electric Traction Pilkington Brothers INTERNATIONAL British Home Stores Plessey PRICE UPDATES MARKETS INDEX VALUE BP Prudential Assurance 1888 Britoil RMC THE FTSE 100 WAS ONE OF LISTING DATE OF ANTOFAGASTA; Bowater Racal Electronics THE FIRST INDICES TO HAVE THE LONGEST CONTINUALLY Burton Rank Organisation MINUTE-BY-MINUTE PRICE 1,000 LISTED COMPANY ON LONDON Cable & Wireless Reckitt & Colman UPDATES. TODAY, THE FTSE 100 STOCK EXCHANGE Cadbury Schweppes Redland IS CALCULATED IN REAL TIME TOP 5 LARGEST FTSE 100 Charterhouse J. Rotschild Reed International AND PUBLISHED EVERY 70%+ Commercial Union Assurance Rio Tinto-Zinc COMPANIES BY MARKET CAP OF REVENUES OF FTSE 100 Consolidated gold Field Rowntree-Mackintosh MARKET VALUE NEEDED COMPANIES ARE DERIVED FROM BRITISH PETROLEUM CO Courtaulds Royal Bank of Scotland INTERNATIONAL MARKETS Dalgety Royal Insurance TO ENTER THE INDEX SHELL TRANS & TRAD CO Distillers J Sainsbury GENERAL ELECTRIC Edinburgh Investment Trust Scottish & Newcastle Breweries 15 IMPERIAL CHEMICAL INDUSTRIES English China Clays Sears £4bn+ MARKS & SPENCER Exco International Sedgwick SECONDS Ferranti Shell Transport & trading Fisons Smith & Nephew General Accident Fire & Life Standard Chartered General Electric