Jewellery group Signet, which owns H Samuel and Ernest Jones, has said that it is to delist from the London Stock Exchange in order to reduce costs.

The US-based firm conducted a review of its stock exchange listings last year and found that administrative costs could be reduced by only keeping one listing.  In a statement, Signet said: “As the volume of trading on the Shares on the LSE is low and Signet's shares can continue to be traded on the New York Stock Exchange (NYSE), Signet believes the impact on its shareholders of delisting from the LSE will be negligible.”