Three months is a perilously long time in the life of the Neuer Markt. The Frankfurt high-growth infant, barely three years old, has witnessed enough turmoil in the months since July to last it a decade.

The near-bankruptcy suffered by Gigabell, the internet services firm, threatened to kick off a shakeout among Neuer Markt stocks. Gigabell would have been the first NM-listed firm to go bankrupt and would have seriously dented its reputation.