Seawell drills for $430m as holidays end

Norwegian oil services firm Seawell raised Nkr2.6bn ($430m) in an oversubscribed share placement on Tuesday as the summer break in the Nordic market neared its end. It underlines a bullish view on the global economy and corporate earnings among fund managers — 78% of those polled by BofA Merrill Lynch think a double dip recession is unlikely. On Friday, EuroWeek will take a closer look at sentiment among European investors.