Investment bank Peel Hunt has returned to profit on the back of a stronger financial market and more dealmaking, but said investor sentiment had weakened since the Budget.
It carried out two initial public offerings – including supporting Raspberry Pi’s hotly anticipated London debut – and collected more fees from advising on mergers and acquisitions between UK companies. But the firm cautioned that recovery slowed over the summer ahead of the UK autumn Budget and US presidential election.
The Aim market came under the spotlight after the Government said it would be reducing tax relief for shares listed on the exchange.