Neuer horizons

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Over the course of the year, the FTSE Europe (ex-UK) index barely changed, and the HSBC Europe (ex-U...

Over the course of the year, the FTSE Europe (ex-UK) index barely changed, and the HSBC Europe (ex-UK) Smaller Company Index fell by around 7%. The technology-heavy Neuer Markt in Germany, meanwhile, plunged around 40%. The demise of the once-hyped Neuer Markt highlights the huge volatility prevalent in European and global markets over the past few years. The story of 2000 for European smaller companies can be split neatly into two parts, pre- and post-10 March. Up to this date, small cap stocks had flourished. The HSBC smaller companies index rose 15% from the start of the year to that po...

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