Shareholders in the London Stock Exchange will vote today on a merger with Deutsche Boerse to create a pan-European exchanges champion. The deal has been cast into doubt by the Brexit referendum, according to some commentators. LSE investors can be expected to vote Yes, not least because the drop in the value of sterling has increased the value of the 46 per cent stake they will take in the merged entity.
Every little sales increase helps Tesco, which is back in the black; McCormick has dropped its bid for Premier Foods; the FCA wants to shake up the IPO process. FT Opening Quote, with commentary by City Editor Jonathan Guthrie, is your early Square Mile briefing. You can sign up for the full newsletter here.