The UK is by far the largest financial centre in Europe, with the scale of its lead meaning it is unlikely to lose its crown because of Brexit, according to a new report.

New Financial, a think-tank promoting “bigger and better” capital markets in Europe, has put together a league-table of financial activity in 48 countries around the world, ranked by quantitative metrics such as stock-market capitalisation, trading volumes, bank lending and pensions and savings assets.