US and Europe hold the key for investors

With the UK market continuing to prove volatile, following the trend of the Nasdaq, investors are waiting to see the implications of key economic figures released in the US and in Europe before committing themselves. As a result, the IPO market has slowed as it did after the last stock market slump in 1998. However, some recent IPOs that did get priced have performed well, despite the cautious mood. Adrian Gosden, fund manager with SG Asset Management, says: "Companies that have an enabling capacity can still prosper against a falling market." He gives the example of Bookham technology, ...