Stock Market Today

MILAN -(Dow Jones)- The head of Italy’s debt management agency has assuredinstitutional investors that Italy is not facing difficulties from the risingcost of issuing new debt, according to a report published Wednesday in thebusiness tabloid MF.

At a meeting with investors hosted by Nomura in Istanbul, Maria Cannata saidinterest payments made by the government among January and August wereequivalent to 4.80% of the country’s gross domestic product, against 4.53% in2010, MF quotes her as saying without citing sources.

The figure stands below the levels of more than 5% seen in 2007 and 2008, thenewspaper says.

Cannata said the average yield on new debt was 2.99%, while its maturity hadlengthened to an average of more than seven years, MF says.

Her meeting with investors was held before Standard & Poor’s downgradedItaly’s debt rating, MF adds.

Newspaper website: www.milanofinanza.it

-Milan Bureau, Dow Jones Newswires; +39 02 5821 9901

 (Finish) Dow Jones Newswires 09-21-110316ET Copyright (c) 2011 Dow Jones & Company, Inc.

MOSCOW -(Dow Jones)- Russia’s consolidated corporate debt is rising fast andhas already hit the level seen prior to the economic crisis in 2008, the headof the audit chamber said Wednesday, calling for curtailing borrowing.

Speaking at the state Duma, Russia’s parliament lower chamber, SergeiStepashin stated the total debt of the country’s companies hit $523 billion as ofJuly 1, from $489 billion at the finish of 2010.

This is almost the pre-crisis level, he said.

Stepashin stated the authorities is discussing measures to limit corporateborrowing. Russia bailed out the country’s largest overleveraged companiesduring the crisis.

-By Alexander Kolyandr, Dow Jones Newswires; alexander.kolyandr@dowjones.com

 (Finish) Dow Jones Newswires 09-21-110338ET Copyright (do) 2011 Dow Jones & Company, Inc.

MOSCOW -(Dow Jones)- Russia’s consolidated corporate debt is rising fast andhas already hit the level seen prior to the economic crisis in 2008, the headof the audit chamber said Wednesday, calling for curtailing borrowing.

Speaking at the state Duma, Russia’s parliament lower chamber, SergeiStepashin stated the total debt of the country’s companies hit $523 billion as ofJuly 1, from $489 billion at the finish of 2010.

This is almost the pre-crisis level, he said.

Stepashin stated the authorities is discussing measures to limit corporateborrowing. Russia bailed out the country’s largest overleveraged companiesduring the crisis.

-By Alexander Kolyandr, Dow Jones Newswires; alexander.kolyandr@dowjones.com

 (Finish) Dow Jones Newswires 09-21-110338ET Copyright (do) 2011 Dow Jones & Company, Inc.

SEOUL -(Dow Jones)- A member of the Bank of Korea’s rate choice board saidWednesday it will be difficult to keep the country’s consumer price inflationwithin the central bank’s target band for this year of 2%-4%.

“We’re facing conditions in which it will be difficult to keep inflation belowthe upper finish of the target this 12 months,” Lim Seung-tae, a member of the centralbank’s Financial Policy Committee, told reporters.

Lim is the third senior Korean official this month to say the country willlikely miss its 2011 inflation goal.

Early this month, South Korean President Lee Myung-bak said he expected thecountry’s consumer price index to rise by more than 4% this 12 months, while Bank ofKorea Gov. Kim Choong-soo stated keeping inflation inside 4% this year would be “very challenging.”

Lim also said Wednesday the global economy was at a critical juncture as theworld’s biggest growth engines, the U.S. and Europe, would lack momentum for aconsiderable time.

But he noted the Korean economy continues to be expanding since February 2009 andthat it would enter its longest growth period since the 2008 global financialcrisis if it continues the current pace of growth for another quarter.

-By In-Soo Nam, Dow Jones Newswires; 822-3700-1902; In-Soo.Nam@dowjones.com

 (End) Dow Jones Newswires 09-21-110348ET Copyright (c) 2011 Dow Jones & Company, Inc.

SEOUL -(Dow Jones)- A member of the Bank of Korea’s rate choice board saidWednesday it will be difficult to keep the country’s consumer price inflationwithin the central bank’s target band for this year of 2%-4%.

“We’re facing conditions in which it will be difficult to keep inflation belowthe upper finish of the target this 12 months,” Lim Seung-tae, a member of the centralbank’s Financial Policy Committee, told reporters.

Lim is the third senior Korean official this month to say the country willlikely miss its 2011 inflation goal.

Early this month, South Korean President Lee Myung-bak said he expected thecountry’s consumer price index to rise by more than 4% this 12 months, while Bank ofKorea Gov. Kim Choong-soo stated keeping inflation inside 4% this year would be “very challenging.”

Lim also said Wednesday the global economy was at a critical juncture as theworld’s biggest growth engines, the U.S. and Europe, would lack momentum for aconsiderable time.

But he noted the Korean economy continues to be expanding since February 2009 andthat it would enter its longest growth period since the 2008 global financialcrisis if it continues the current pace of growth for another quarter.

-By In-Soo Nam, Dow Jones Newswires; 822-3700-1902; In-Soo.Nam@dowjones.com

 (End) Dow Jones Newswires 09-21-110348ET Copyright (c) 2011 Dow Jones & Company, Inc.