City donors have slashed their contributions to the Conservative party this year, as confusion around Brexit angers both its europhile and eurosceptic benefactors.

Contributions from the 20 largest City donors — which include hedge fund founders John Armitage of Egerton Capital, Michael Hintze of CQS, and Mark Coombs of Ashmore Group — fell by 74% in the last six months, compared with the first half of last year.

One...