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Emerging Markets

European IPOs: bulls and bears battle it out

Equity markets are often believed to move in a herd — either everything is going up or everything is falling. But the present phase bucks that trend. New equity issues are being launched, and meeting very different fates. Some are being welcomed as if it was a bull market; others have been turned away by a bearish response from investors. The moral is: at the moment, every deal has to prove itself.

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