JP Morgan Cazenove has been forced to postpone its second UK initial public offering due to market volatility after Cineworld, the UK cinema chain backed by US buyout firm The Blackstone Group, delayed its flotation this morning.

JP Morgan Cazenove and Lehman Brothers were leading the cinema chain's flotation, which was due to begin trading today on London Stock Exchange. The company was set to be valued at about £450m (€652m).