CRH bids farewell to Irish market

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CRH bids farewell to Irish market
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Euronext lobbying for cut in stamp duty will not stem tide to markets with higher valuations and greater liquidity

Much research confirms this point about higher valuations. A 2015 Federal Reserve paper found companies cross-listing in a more “prestigious” market enjoy “significant valuation gains” over the following five-year period.

Separate research shows companies tend to significantly outperform in the year before listing. CRH shares, up 34 per cent in 2023, are following this pattern. Little wonder the US market is tempting away Irish companies.

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