Stockwatch: A Panglossian view of Aquinox, Otonomy and Karolinska

 
• By Andy Smith
  
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Last week saw an about-turn by a stock market emboldened by hopes of resolutions to the Greek problem and the bursting of the Chinese equity bubble. That European stock markets can rally when the biggest challenges for Greece and the eurozone are ahead of them is not surprising because, as in life sciences, hopes for a positive outcome are often greater than the actual outcome.

Last week saw an about-turn by a stock market emboldened by hopes of resolutions to the Greek problem and the bursting of the Chinese equity bubble. That European stock markets can rally when the biggest challenges for Greece and the eurozone are ahead of them is not surprising because, as in life sciences, hopes for a positive outcome are often greater than the actual outcome.

Voltaire's Pangloss is evidently alive and well and finding receptive ears on the sell-side for his view that all is...

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