Daniel Stewart posts first half loss

Daniel Stewart Securities , one of a clutch of small brokers operating in the City of London, posted a first-half loss as the European sovereign debt crisis led to deals drying up.

The company made an underlying net loss of £143,799 for the six months ending 30 September - down from a profit of £190,572 a year earlier.

"The six months to September have been an extremely difficult time for the brokerage industry," chief executive Peter Shea said in a statement.

"Despite this we have continued to invest in our international development, with a particular focus on Asia. We are confident that this investment will assist in sustaining our business should the economic outlook in Western Europe remain bleak," he added.