North West businesses listed on the London Stock Exchange have performed strongly despite market slumps around the world, according to a new report.
Deloitte’s North West Share Index reveals the value of the region’s listed businesses is now just shy of the £30bn mark.
FTSE-listed companies grew by £236m – representing a rise of 3.4 per cent.
This result comes despite the Chinese economic slowdown in August, which saw the Shanghai Composite fell eight per cent, Wall Street’s Dow Jones drop six per cent and France and Germany decline by five and four per cent respectively.
The region’s best performing firms include sports fashion retailer JD Sports, which saw a 35 per cent rise in its market cap this quarter, worth almost £500m, AO World and Auto Trader which both enjoyed a buoyant quarter rising more than 10 per cent each.
Chris Robertson, partner in charge of plc activity at Deloitte in the North West, said: “It’s been a turbulent quarter for public markets globally, with the economic problems witnessed by China causing a minor decline in stock exchanges around the world.
“With this in mind, to see the North West performing so strongly, despite the adverse economic conditions, is extremely encouraging.
“The North West has demonstrated that the markets remain open for business, both with the outstanding growth figures achieved by JD Sports and Auto Trader, and the impressive £240m listing of On the Beach.
“Companies have shown they are resilient to global trends and have an optimistic outlook for the remainder of the year.”
