Quayle Munro set to beat expectations

SHARES in Quayle Munro closed up 13 per cent yesterday at 762.5p after the Edinburgh-based merchant bank revealed that full-year profits "are likely to exceed market expectations".

Quayle said that its advisory business in London and Edinburgh had "continued to trade well" following positive comments in its interim results.

Recent transactions on which the firm has advised include US billionaire Wilbur Ross's purchase of a 100 million stake in Virgin Money and Advent's acquisition of Lord Kirkham's shares in sofa chain DFS.