The Italian Almanac
It happens in Italy - January 1st
In the year 2004, the Italian stock exchange index rose by 18.1%, performing better than any other European market. It grew twice as much as London, almost three times as much as Frankfurt, performed six times better than Zurich or Wall Street and even outstripped the dynamic Bolsa de Madrid.
The year-end result is even more positive if we remember that there was also growth in market capitalisation and trading, which reached its highest-ever level after 2000. There has been renewed interest in placings, signalling that savers are returning to invest in shares.