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Investment banks reeling from Brexit volatility

Securities sales and major M&A deals will be thwarted by economic and political uncertainty and currency swings

Lower revenue in European markets will probably chop earnings over the coming four quarters by an average of 4 per cent at the biggest US investment banks.


BREXIT is the last thing investment banks needed.

Friday's currency swoons and stock rout - triggered by UK voters' surprise decision to withdraw from the European Union - herald even harder times for securities firms already struggling to improve earnings. While some...