Neuer Markt goes a little grey

It's been a rollercoaster ride. First investors were desperate to buy any stock available, now they are withdrawing funds. But how much is the grey market to blame? Laura Covill reports.

Hans-Joachim Plückers is a friendly, gentle man wearing a silly tie who sits in a glass box at the Düsseldorf stock exchange. The trading floor is embarrassingly quiet; only a dozen traders are left at 3.30pm on a very slow day. Plückers chats affably about his business, and when Euromoney asks to meet a trader who worked on the initial public offering of Epcos, he introduces his wife Doris.

It all seems so amiable, yet Plückers, head of the Schnigge broking firm, is reviled by investment bankers all over Germany.

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