Peel Hunt sees improving macro conditions in Q1

Investment bank Peel Hunt said it has seen positive developments in macro conditions since the start of its new financial year, with revenues in the first quarter ahead of last year.

The company said it has seen "some improvement in the macroeconomic backdrop" since the end of its financial year (30 March), with "tentative signs of a pick up" in equity capital markets (ECM).

During the period, Peel Hunt said it advised clients in relation to a number of ECM transactions, including acting as global co-ordinator on two IPOs executed on the London market.

Meanwhile, it was also "encouraged" by an increase in activity in both its Execution Services and institutional trading businesses, the company said in a brief trading update on Thursday.

Shares were up 2.3% at 132p by 0918 BST.