Up, but with some effort. Four-monthly stock market report (2003)

In eight months, from March to November 2003, the Milan Stock Exchange recovered €85,273 million. We have gone from a capitalisation of 509,260 million euro (March 2003) to 594,533 million euro (November 2003). In practice, anyone who had a share capital of €100,000 in March 2003 now has €127,000. On the other hand, someone who had this 100,000 euro in July 2000 now has a capital of 72,000 euro, which is higher than the capital value of March 2003: 45,000 euro. In reality, your capitalisation has increased by 27 %. This is what Eurispes calculated in its latest four-monthly report on stock market trends. A positive signal, attributable to an evident recovery, has affected both the Italian stock exchange and all the leading world stock exchanges after overcoming the combined effects of the global economic slowdown and the war.

However, the trend is not the same for the various sectors of activity of the listed companies. Thus, the good increase in the last twelve months of the general index (+8.3) is broken down into an appreciable rise in financials (+16.6%), which improves on the figure recorded in July, the good result of the stocks of service companies (+7.3%, close to the general average), but also signals a sharp fall in the industrial values, which report a drop compared to November 2002 of 3.6%. Over the last four months, however, all three sectors showed a positive trend, with more positive performances for financials (+8.5%), industrials (+7.1%), and more moderate ones for services: +3.2%).