London's stock market is poised to regain its position as Europe's largest equity market, surpassing Paris, due to a faltering rally in French luxury shares. The market capitalization of primary British listings now stands at $2.90 trillion compared to France's $2.93 trillion. This shift is driven by a slide in France's value amidst economic gloom in the Chinese market, while London is experiencing signs of investor bullishness for the first time in years. Factors contributing to the UK's positive outlook include a rally in oil prices, cooling inflation, and the potential for a weaker pound.