UK capital finance plummets for first time in five years

Data-Corporate-Finance-Business-Pen-Graph-Growth-700x450.jpgCapital finance in the UK has fallen for the first time in five years following the Brexit vote, the FT reports.

Financing from bond and share sales dropped to £18.4bn year to date, down from £22.6bn over the same period last year according to research from accountancy firm Moore Stephens, which the firm attributed to companies trying to “digest what Brexit meant”.

Meanwhile sales have slowed following the Bank of England’s corporate bond purchase scheme that began in September. The market initially responded positively, but according to data provider Dealogic sales have dropped from £9bn in September to £1bn in October.