Europe: A case of nerves

2006 Financial Market Preview

Despite the fact that 2005 was a good year for IPOs in Europe, European market watchers remain nervous about the sector's prospects. Offsetting factors include a spate of companies moving their headquarters to the U.S., along with worries that one bellwether - Serono S.A. - has put itself up for sale, while another - Actelion Ltd. - could find its marketed drug eclipsed by new entrants. How the new year goes could well be determined in the first quarter, which has the lion's share of this year's milestone events. ...