Peel Hunt Ltd shares plummeted on Wednesday after the investment bank issued a warning that earnings might be ‘commensurately lower’, due to a number of deals being delayed.

Shares were 16% lower at 149.00 pence each on Wednesday in London.

‘Since the start of the calendar year, concerns in relation to inflation and interest rates as well as global geopolitical events have negatively impacted market conditions and investor sentiment. As a result, the backdrop for capital markets activity has been particularly challenging,’ the London-based corporate broker and investment bank said.

Peel Hunt continued that it is still has a strong pipeline of corporate transactions, but is seeing a number of deals being delayed.

As a consequence of the delays, the investment bank expects revenue for the year ending March 31 to be ‘marginally below’ the bottom of guidance and annual earnings to be ‘commensurately lower’ than current market expectations.

Copyright 2022 Alliance News Limited. All Rights Reserved.