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The Mayor of the City of London, Lord Mayor John Stuttard, said today, during his visit to BM&F, that London has an “immense interest” in the carbon auction to be carried out in September by the Exchange in partnership with the authorities of the City of São Paulo. According to Lord Mayor, the objective of his visit to BM&F is to obtain more information about the auction in order to attract more foreign investors.
Besides the carbon market, Lord Mayor will also discuss with BM&F’s executives the possibility of developing a market for freight derivatives, to minimize transport risk. Mr. Stuttard stated that his intention is to also attract Brazilian companies to list their stock at the London Stock Exchange (LSE), in partnership with the São Paulo Stock Exchange (BOVESPA), in order to raise the global brand of these companies. As an example, he reminded how, 20 years ago, Finnish company Nokia listed at the LSE, thus helping it to become a recognized global brand.
In Mr. Stuttard’s view, London has lagged behind the U.S. in relation to the ethanol market. President George W. Bush has visited Brazil and Brazil’s President, Luiz Inácio Lula da Silva has been to the U.S. to discuss this issue. Lord Mayor affirmed that he plans to strengthen the agribusiness ties between London’s financial community and Brazil.
When asked about the recent turbulence affecting global markets, Mr. Stuttard believes that the situation is under control. Without making any projections, he trusts that stability will soon return to the financial markets.
The visit of the Mayor of the City of London to Brazil includes a lecture, on August 24th, at the International Derivatives and Financial Market Conference, promoted by BM&F.
Click here for the press conference with Lord Mayor John Stuttard  Click on pictures to enlarge |
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