Equity bulls stampede into Eu800m of ABBs

A new wave of equity bullishness drove an Eu800m-plus surge of accelerated bookbuilds in western European companies this week. Sales of Beni Stabili, HeidelbergCement, Helvetia, Indra Sistems, KappAhl and SeaDrill were covered several times over, suggesting that risk aversion among equity investors is falling fast. The deals came in addition to a $227m placing by Russia’s Eurasia Drilling on Thursday (see separate story).