Why are stock prices on the London Stock Exchange so low?

Answers:0   |   LastUpdateAt:2012-08-08 00:21:44  

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nessa
Asked at 2012-08-08 00:21:44
If I am correct , the London Stock Exchange quoted prices in pence and a penny is 1/100th of a pound (like a penny is one dollar ). As an example of Tesco is trading at 435. It is 435 pence making it 4.35 pounds at current exchange rate of 2 pounds per $ 1 is about 9.7 U.S. dollars only . Is that correct ? So why are stock prices much lower in the UK than they are in the U.S.? Or am I wrong about that ?
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