The City's investment bankers have brushed off UK Prime Minister Theresa May’s calling of a surprise general election, saying the event will have little effect on momentum following a strong start to the year for dealmaking.

“I don't think the election will affect the new issue calendar, except you may want to shift timing by a week or two if you're scheduled to price an IPO at the same time as the election,” said Craig Coben, Bank of America Merrill Lynch’s global head of equity capital markets. “The markets remain open but not indiscriminate.”