London is set to retain its dominance as the world’s premier financial centre despite Brexit uncertainty, according to analysis of company flotations data by EY.

The Big Four consultancy's quarterly “IPO Eye” survey of initial public offerings revealed what it described as a “slow but steady” start to the year.

In the first quarter there were 16 flotations in London - nine on the main market raising a total of £1.15bn and seven on the alternative investment market (Aim), amassing £149m.

While a 38pc drop in the number of IPOs in the same period a year ago, the total raised by the deals was up by 6pc.