THIS WEEK was the busiest on Wall St since the autumn meltdown, with IPOs responsible for most of the activity. That reflected the continued revival of the new issues market, one that virtually collapsed in September. As Conoco proved last month, investors are again hungry for good stories. However, observers on Wall St agree that, for the moment at least, the bias remains firmly in favour of large-cap liquid stocks. Smaller, speculative stories will have to wait a little longer to test the market.
November 13, 1998