Your black and white conclusion is way too simple, gimme.
I comment on the gradual - decades, generations - decline of London as a financial centre and capital pool. Leaving the EU has only accelerated the process.
Meanwhile, Australia has deep mining analytical skills, a large and stable capital base (super) and the capacity to shoulder risk.
RIO management is being obliged to address the persistent 18% price discount between ASX and LSX, itself an indicator of the relative depths of the capital pools.
RIO is a mature, stable and far-sighted metals business. It doesn't need fresh risk capital. That discount speaks volumes about London's capital base.
Ash
RIO Price at posting:
$119.27 Sentiment: None Disclosure: Not Held
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