Peel Hunt FY results seen ahead of market expectations

(Sharecast News) - UK investment bank Peel Hunt expects to deliver full-year results ahead of current market expectations after making "a strong start" to the current financial year, demonstrating the strategic progress made by the firm during the "challenging market conditions" of the last three years. In its investment banking arm, Peel Hunt said it has acted on "a number of substantial M&A transactions", with its corporate franchise now including 58 FTSE 350 clients and, in recent weeks, has also seen nascent ECM activity, where it has supported its clients on a number of equity raises and block trades.

Peel Hunt also highlighted that revenues in its execution services business were also "encouraging and materially ahead" of the prior year.

"As a result of this activity, we expect to deliver full-year results ahead of market expectations," said Peel Hunt.

As of 0945 BST, Peel Hunt shares had rallied 10.64% to 112.30p.





Reporting by Iain Gilbert at Sharecast.com