German Stock Exchange Chief Theodor Weimer's Outburst Sparks Business Community Uproar

German Stock Exchange Chief Theodor Weimer's Outburst Sparks Business Community Uproar

11 Jun, 2024

German Stock Exchange Chief Theodor Weimer's Outburst Sparks Business Community Uproar

There has been much soul-searching and agonizing in recent years over the valuation of the UK stock market, intertwined with a debate over London's ability to attract world-class businesses to list here. Despite the FTSE-100 hitting several record highs in 2024, the UK's premier stock index trades at a significant discount to its global peers.

The FTSE-100 currently trades on a price/earnings ratio of 14.78, compared with 15.71 for the pan-European Stoxx 600 and 24.7 for the S&P 500. Concerns about low valuations extend beyond the UK to other European economies. German business has been set ablaze following a recent speech by Theodor Weimer, the outgoing CEO of Deutsche Boerse.

Mr. Weimer's speech at the Bavarian Economic Advisory Council in Munich criticized Germany's coalition government. He expressed frustration with Vice Chancellor Robert Habeck and criticized the government’s economic policy, immigration attitudes, and innovation. He warned that Germany is on the path to becoming a developing country and stated that the country's global reputation has never been worse.

Weimer's comments resonated with many in Germany's business community, highlighting fears of a declining industrial sector and poor government policy. His outburst reflects a broader sentiment of dissatisfaction among German business leaders, exacerbated by recent poor election results for the governing coalition.

 

 


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