Volumes tumble as bankers debate next IPO

Just as quickly as Europe’s ECM market warmed up, it has cooled off, with bankers blaming school half-term holidays for a drop in Monday’s trading volumes. A repeat of last week’s $5bn of quick-to-market deals is unlikely in the coming days — but with markets still in elevated territory, attention is turning to candidates that could re-open the mid- and large-cap IPO sectors.