What Brexit blues? City to be flooded with BILLIONS thanks to strong British stock market
THE City is set to receive a staggering £30billion as foreign owners of companies seek to make the most of Britain’s strong post-Brexit economy.
The City will see a £30billion boost after the Brexit vote
Half a dozen companies will be floated over the next six months, City sources say.
CVC, the owner of Sky Bet, is planning a stock market debut for the gambling business to the eye-watering tune of £1.5billion.
The float will be done in cooperation with Sky, who own a 20 per cent stake in the business.
Foreign companies are seeking to capitalise on the strong UK stock market
Fears of a Brexit recession were dismissed by experts at analysts Moodys
Some firms are looking to FTSE 100 listings for stability.
Banking software provider Misys is also planning to go public to the expected value of around £5billion, with many firms encouraged by the post-Brexit rally in shares in London.
Surge in demand to short domestically exposed UK stocks: Pro
The fall in the sterling will mitigate some of the negative effect in the short term by providing a boost to exports
It is believed Misys owner, US-based Vista, is looking to float the company before November as the US presidential election could shake markets on the other side of the Atlantic.
The encouraging news comes after economic experts rubbished claims Britain was heading toward a recession after the June 23 European Union referendum.
"This is because businesses will hold back on hiring and making long-term investments, and as consumers postpone large spending decisions.
"However, the fall in the sterling will mitigate some of the negative effect in the short term by providing a boost to exports."