4th Jul 2024 12:35
(Alliance News) - Peel Hunt Ltd on Thursday reported "tentative" signs of a pick up in equity capital markets as it said trading in the quarter to June was in line with expectations.
The London-based firm which provides investment banking, advisory and capital markets services, as well as research & distribution and a trading platform made the comments ahead of Thursday's annual general meeting.
In the three months ending June, Peel Hunt said: "We have seen some improvement in the macroeconomic backdrop since the start of [financial 2025], with tentative signs of a pick up in equity capital markets activity."
During the period, Peel Hunt advised clients in relation to a number of ECM transactions, including acting as global co-ordinator on two initial public offers executed on the London market.
The company said it was encouraged by an increase in activity in both its execution services and institutional trading businesses.
Peel Hunt said first quarter revenue for financial 2025 are ahead of the equivalent prior year period and in line with market expectations.
Shares in Peel Hunt rose 3.1% to 133.00 pence in London on Thursday afternoon.
By Jeremy Cutler, Alliance News reporter
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