Country winners

Investors responding to Global Investors’ poll voted the following brokers as the best in Europe.

Hints of an urge to merge

A crucial prerequisite of Japanese economic rejuvenation looks to be a burst of merger and acquisitions activity Or so many of the investment banks that would arrange such deals say.

Convertible cat and mouse game

Following a banner year for convertible bonds in 1999, bankers had hoped that the European corporate restructuring wave, capital gains tax changes in Germany, and benign economic conditions would spur the market to even greater heights in 2000.

The bandit of Baku

Renegade Czech financier Viktor Kozeny is soon to face in court angry American investors who claim he bilked them in a fantastic scheme to acquire Azerbaijan’s state oil company.

Dance of the Cobra

Germany Inc doesn’t like outsiders, especially those challenging the fundamental building blocks of German finance.

KPN’s Catch 22

Leading Dutch telecommunications provider KPN faces an uncertain future following the failure of its attempt to link up with Telefonica in Spain.

E pluribus unum

With foreign exchange platforms popping up all over the internet, competition and consolidation are sure to separate the winners from the losers.

Fighting to be heard

An ever-increasing blizzard of broker research is making it difficult for equity analysts to deliver visionary advice.

What fund managers want research

They throw 80% of research straight into the bin; regard sell-side analysts as reactive and herdlike; and suggest that brokers see small hedge funds as being more valuable clients than major asset managers.