Italy

Article Abstract:

Improved conditions in the Italian financial markets have been brought about by several factors which include the granting of a medium-term balance of payments loan by the EC. This reduced the inflation rate. Other factors included the positive outcome of referenda on political reform as well as the Danish referendum on the European Union and the reduction of German interest rates. Improved economic conditions resulted in favorable effects in the bond market. To reduce borrowing costs, the Treasury authorized the issuance of securities over a wide range of currencies.

Security brokers and dealers, Securities industry, Credit market, Credit markets

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Australia

Article Abstract:

Economic recovery in Australia continues at a steady pace and real GDP growth is expected to reach 2.5% in 1992/1993, with a 3% forecast for the succeeding year. The low inflation rates triggered reductions in the Reserve Bank official cash rate by as much as 0.75 points. It also led to a drop in bond yields from below 9% in early Jan 1993 to 7.5% in late May 1993. Likewise, Australian shares performed favorably over the Spring but this was attributed to activity in the gold market in the past months.

Australia, Capital market, Capital markets

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Italy

Article Abstract:

Italy's economic recovery which started in late 1993 became more evident during 1994. Private consumption, stock-building and gross fixed investment all posted significant growth in 1994. The prevailing political stability also propelled Italy's economic growth, causing a surge in foreign investment in the stock market. Privatization-related offerings accounted for about 5% of capitalization in the Milan stock exchange.

Reports, Stock-exchange, Stock exchanges

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