It takes more than one swallow to make a spring, goes the old adage. Yet if we take a closer look at the current economic figures, it's even possible to make out a whole little flock of these birds. After a fair number of turbulent months, the situation on the stock markets has calmed down again. And a number of shares which suffered huge losses in value when things really got out of proportion have even been able to make up a certain amount of their lost ground.

Gerhard Gotzmann