A week is a long time in the markets. Last week, there were encouraging signs that a volatile start to the year had not hit listing plans in Europe. Five days later, fears are mounting that initial public offerings will be pulled after the FTSE 100 fell to its lowest level since 2012 and Asia markets declined sharply.

In stark contrast to last week's mood when a number of European businesses said they were pushing on with their float plans, fund managers, lawyers and investment bankers predict that IPO candidates could suspend their plans unless markets stabilise.