CAN THE STOCK BOOM BE SUSTAINED?
Throughout 1985, the Vienna Borse vied with the Milan Borsa for the
title of the world's fastest growing stock market. A moribund
exchange for the last 18 years, the Vienna equity market boomed
throughout 1985 with record turnover volumes and share prices. By the
end of May, total volume traded for the preceding five months had
already exceeded that for the whole of 1984. By the end of September,
total trading volume had doubled to Asch7.6 billion ($38 million). The
final figures have yet to be totalled, but turnover in 1985 is expected
to exceed Asch10 billion.
Few of the 50 stocks traded on the exchange lost value. Three
companies quadrupled prices, three others recorded increases of between
200 and 300%, eight companies doubled their prices and Montana, an
investment holding company, increased its market capitalization 10
times. So deep and pent up...
