According to arch remainers, one of the many things that would go south if we left the EU was our financial services sector. It is also far from obvious that it has suffered much damage — London’s status as a financial capital is under attack, but from the Far and Middle East, not from Frankfurt — a toy town, best known for bicycles and book fairs. A survey yesterday from EY finds that the UK has extended its lead as Europe’s main destination for investment in financial services.
"Financial and related professional services are a significant and consistent source of tax revenue for the government," Miles Celic, chief executive at TheCityUK, said.
The FTSE 100 shrugged off geopolitical concerns in early trading today, but its gains have faded in the afternoon. Meanwhile, mid-cap takeover activity has continued at pace, as video games business Keywords Studios said it is “minded to” accept a £2 billion bid from Swedish private equity giant EQT. The FTSE 100 closed up four points today at 8,424.20, remaining new record levels.
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