UK

The UK’s Financial Conduct Authority (FCA) has fined Christopher Niehaus, a former managing director in industrials investment banking at Jefferies, for sharing information about a client’s rights issue to impress his friends.

The European Commission on Wednesday struck down the all-but-dead proposed merger of the London Stock Exchange Group (LSEG) and Deutsche Börse.

Cory Riverside Energy, the UK waste management and energy firm, has signed a £520m loan restructuring package, after divesting three of its four businesses since Strategic Value Partners took control of it in 2015.

Chatter about the 'Trump Dump' as investors lose confidence in US economic stimulus may be intensifying, but it has not produced the equity correction predicted, and capital markets in Europe are ploughing ahead, unfazed by the UK's triggering of Article 50 on Wednesday.

Nordic Capital and Avista Capital Partners on Tuesday night completed the first block trade in ConvaTec, the UK wound care and catheters company, since its blockbuster £1.6bn IPO in October. The deal was increased by 25%, to fetch £975m.

Cobham, the UK defence company, announced the pricing for its £512m rights issue on Tuesday, a day after declaring that it was being investigated by the Financial Conduct Authority for its handling of inside information around its last rights issue, in April 2016.

Segro, the UK real estate investment trust, successfully completed its £576m rights issue with a £16.7m rump placement on Tuesday morning.

Investors looking for new public sector avenues in which to deploy their cash can now turn to Moody’s to provide ratings for otherwise unrated public sector borrowers in the UK, France and Germany.

The UK’s Brexit secretary’s admission on Monday night that the government will not cap immigration after the country leaves the European Union — and that immigration could rise or fall after Brexit — may well be the first bit of good news on London’s future as Europe’s main financial centre since the referendum last June.

Shares in OneSavings Bank, the UK challenger bank, closed 6.2% lower on Tuesday after US private equity firm JC Flowers & Co completed its second block trade of stock in the bank since its £143m IPO in June 2014.

Law firm Ashurst has hired partner Tamer Bahgat and advisor Natalia Sokolova to its first European high yield practice.

Shares in Medica Group, the UK provider of teleradiology reports, have risen 44% above their IPO price since they began trading on the main market of the London Stock Exchange on Tuesday, March 21, valuing the company at £217m.