First half review: ECM gets back on track
Every time that global markets have sneezed in recent years, European ECM has spent weeks wrapped up with ’flu. But the first half of 2013 has shown a more resilient side, in IPOs, blocks and equity-linked, writes Andrew Griffin. All the signs are for a healthy end to the year.
Despite continuing volatility and worry across European markets, primary equity activity has been strong in 2013 — with issuance of $112bn already approaching 2012’s full-year haul of $143bn.
The improvement signals a fundamental change in sentiment, say many bankers. As many global funds move towards buying European equities,
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