Brexit inertia means London’s finance workers face summer slump
18 Apr 2019

The weeks before Easter are usually some of the busiest of the year for bankers, lawyers and consultants in the City of London, as clients rush to get deals done before a run of public holidays.

But this year comparatively little has been happening.

City workers had been hoping the torpor of the first quarter would be lifted if Britain left the European Union on March 29, or indeed, April 12.

But with Brexit on ice until as late as October 31 and the terms of the exit still to be agreed, fears are building that this could be one of the leanest years for the City since the aftermath of the 2008 financial crisis.

The London Stock Exchange has had only one corporate listing in excess of 75 million pounds ($97.61 million) so far this year. Trading turnover on the London Stock Exchange in February and March was down a third from a year ago, and the lowest since August 2016.

By Sinead Cruise, Josephine Mason and Huw Jones, Reuters, 18 April 2019

Read more at Reuters

Read more:

EU warns of liquidity risks, financial disruption from no-deal Brexit

Factbox – Impact on banks from Britain’s vote to leave the EU

Trick or treat? EU, UK agree to delay Brexit until Halloween

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