The new year brought nothing but the same old troubles for the Neuer Markt, which hit another all-time low this week as investor confidence in the high growth exchange continued to fall, despite stiffer regulations from the Deutsche Börse. The Nemax 50 index fell 13.5% on Wednesday, to 2,343.91 - the lowest point in its 18 month history. The fall came after the management at one of the five biggest companies on the exchange came under investigation for insider trading, and another announced that net losses for the fourth quarter will be more than three times expected. "Market participants have lost all their trust," said the head of one syndicate desk in Germany.
January 05, 2001
