David Cameron has promised a Remain dividend, Elementis has warned on profits. Hornby needs Airfixing. 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. David Cameron has promised a “Remain dividend” if Britons vote to stay in the EU. In an interview with the FT, he said businesses and “job creators” would “pile back into the economy”. It’s welcome to hear a positive message from the Remain camp, whose tendency to accentuate the negative resulted in the derogatory nickname Project Fear. London Mayor Sadiq Khan squared the account last night by accusing Brexiters of mounting a Project Hate over immigration. The only missing constituency now is Project Crikey I’ll Be Glad When This Ghastly Referendum Is Over, to which OQ firmly belongs. As to the Remain dividend, it’s likely sterling and equities would rally if the UK opts to stay in. Risks are heavily stacked on the downside, according to a currencies expert OQ talked to yesterday, not least because a recent surge in the pound has squeezed a lot of short money out of the market. Brer Corporate Financier informs us that over £10bn of initial public offerings would be transacted largely through London (though not all would be London listings) in the next twelve months, if Remain wins.
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David Cameron has promised a Remain dividend, Elementis has warned on profits. Hornby needs...