Theresa May's eagerly-awaited Brexit speech in Florence this afternoon contained few surprises for the City of London, despite executives having warned the prime minister to do more than merely repeat January's Lancaster House address.

May's speech in the Italian city was the first since the start of the year in which she gave details about her ambitions for life outside the EU. But she said the promises made in January "still stand today" and frequently referred back to that earlier address.