UK
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Leading voices from across the emerging world have lined up this week to talk up the benefits of free and unfettered trade — and bemoan the increasingly protectionist rhetoric they see emanating from politicians in the struggling West
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Shares in Brammer, the UK distributor of industrial maintenance, repair and overhaul products and services, fell as much as 51% on Friday morning after the company delivered a profit warning, cut its dividend and announced plans for a £100m rights issue underwritten by Investec. -
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Numerous press articles in recent years have predicted the death of single name credit default swaps. Onerous capital requirements, costly changes in market structure and alternative hedging tools have all been cited as factors driving the inexorable decline in the product.
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Misys, the UK banking software company owned by Vista Capital Partners, will make its return to the London Stock Exchange via an IPO in early November, the company said in an intention-to-float document on Thursday morning.
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Block issuance has been active this week, with three notable accelerated bookbuilds all sold well. Monday also brought the announcement of what could be the largest IPO in London this year.
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Two equity block trades came out in the European market on Tuesday evening, both of which achieved successful sales.
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Britain has made striking free trade deals one of its signature policies following the Brexit vote. Emerging markets will no doubt be keen to sign up but the reality is that such deals will take years to sign off
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Tullett Prebon is set to lose its European chief executive, who becomes the second senior departure in the past week from a planned Tullett-ICAP combined group as the two interdealer brokers look to merge by the end of this year.
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UK chancellor of the exchequer Philip Hammond abandoned on Monday his predecessor’s ambition to pay off the country's public debt by 2020 but renewed its commitment to fiscal consolidation. SSA bankers responded by predicting higher government borrowing.
