The humble man hug. I found a great video on the net that explains it perfectly:
The basic gist is:
1. Go in for the kill but make it clear what you're doing.
2. Both go left, no windmill arms, no nose bashing.
3. Clasp! Hug! Enjoy! No nuzzling!
4. Three manly slaps or punches on the back to show you're still men.
5. Spring apart! Play fight or manly conversation to ensue. No awkward scracthing or coughing.
Quintessentially British, and apparently remarkably close to the continental view of our gents, this celebrates metrosexual, class-uniting, triumphant man-hugging. Excellent.
I'll keep my eye out for more.