Daily Briefing: UOB suspends London property loans on Brexit; Homeowners to enjoy lower mortgages

And SGX’s Baltic Exchange bid underscores IPO drought.

Singapore’s United Overseas Bank Ltd. has temporarily stopped making loans against London residential properties after the U.K.’s shock decision to exit the European Union.Read more here.

The steady increase in interest rates is starting to taper off given the slower economic growth, benefitting homeowners in the form of cheaper mortgages. Read more here.

The decision by Singapore Exchange (SGX) to bid for London’s Baltic Exchange seems natural given Singapore’s historic roots as a trade and shipping hub. But it also highlights the pressure SGX’s new chief executive, Loh Boon Chye, is under to diversify, following a woeful year for new equities listings on the bourse and competition from regional centres. Read more here.