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Cenkos confident despite Ukraine, inflation worries denting backdrop

Wed, 11th May 2022 10:24

(Alliance News) - Cenkos Securities PLC on Wednesday said it has an "encouraging pipeline" for 2022 despite investor sentiment coming under pressure amid inflationary and Ukraine worries.

Cenkos Securities is a stock broker and financial adviser which is holding its annual general meeting on Wednesday.

Chair Lisa Gordon said the company had a good start to 2022, completing three initial public offerings, four placings and two merger & acquisition transactions in the first ten weeks of the year.

However, she noted that "the macro-environment has remained challenging" since releasing results in mid-March.

Gordon cited the ongoing war in Ukraine, inflation worries and interest rate concerns as "impacting investor risk appetite and capital markets activity".

Last week, the Bank of England raised interest rates to their highest levels since 2009 as the central bank warned inflation could accelerate to 10% this year.

Despite recent market turmoil, Cenkos remains "confident".

"We are currently working on a number of transactions for our clients and have an encouraging pipeline for the rest of the year," said Gordon.

Cenko Securities was trading 1.5% higher in London on Wednesday morning at 69.00 pence.

By Sophie Rose; sophierose@alliancenews.com

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