European Stars and Stripes (Newspaper) - December 12, 1993, Darmstadt, Hesse Page 20 the stars and stripes Money matters sunday december 12,1993 Dollar watch i it i shown below Are the highest Dollar Exchange rates for the week of dec. 6 dec. 10 compared with Dollar rates for the same period one year and five years ago. German Mark one Dollar would buy you 1.6 173 1993 a military Exchange rat 1.54 a 1992 l j2jj British Pound one Pound would Cost you 1.61 1-83 1.52 1993 belgian franc one Dollar would buy you 36.32 32.75 36.82 196 1992 1.8 dutch Guilder one Dollar would buy you 1.97 .1.73 a. A or 1993 a a a of la it a Quot a a 1992 j 198 French franc one Dollar would buy you 5.92 5>40 5.96 1988 1992 greek drachma one Dollar would buy you 240.66 1993 201.61 1992 a 145.30 1 1w�i italian lira one Dollar would buy you 1,724 1,393 1,290 1993 Spanish peseta one Dollar would buy you 14185 113115 113.55 122.60 1993 turkish lira one Dollar would buy you 13,687 Quot 8,269 1993 big decline in Energy prices helps hold inflation to 0.2% Washington a a Sharp the next few months analysts said. Drop in International Oil prices restrained . Inflation to a modest 0.2 percent in november and analysts predicted even better Price news ahead despite improving economic growth. Energy prices fell 1.3 percent last month the biggest decline since March 1991. That helped offset a 0.4 percent Rise in food costs arid a 0.3 percent increase in All other goods and services. The Energy declines were produced by a drop in crude Oil prices from nearly $19 a barrel in mid october to just More than $14.50 a barrel earlier this month and should restrain inflation to near Zero for for the first 11 months of this year consumer prices have risen at a 2.8 per cent annual rate Down a notch from the 2.9 percent rate for All of last year. And the consensus forecast of 51 top economists surveyed by Blue Chip economic indicators of Sedona ariz., is for a 2.9 percent rate next year. Despite the favourable Price Outlook economists Are becoming increasingly convinced the Federal Reserve will nudge Short term interest rates higher Early next year just to make sure Price pressures do not Rise. Quot the fed really has to be focused on the Long term a said economist Martin regalia of the . Chamber of Commerce. A even at 3 percent inflation in t the Bottom line is. You re basically Good enough for looking at 3 percent inflation. That san a separate report the labor de where we be been for the last two years apartment said americans inflation and and that s probably where Well be for an busted average weekly earnings have other year a said economist Donald a climbed for two consecutive months up Rajczak of Georgia state University in at 0.3 percent in november and 0.7 percent Lanta. In october. Continues to new York up1 the Dow Jones Industrial average established record highs three times last week but Wall Street was not in the mood to break out the Champagne bottle. The Dow set records tuesday wednesday and Friday with the help of a handful of Blue Chip stocks most of them cyclical or economically sensitive issues. A nobody is really celebrating a said Ron Doran director of institutional trading at . King amp associates in Albany n.y., because the Dow accomplished its record setting feat without the Broad markets backing. Michael Metz chief investment strategist at Oppenheimer amp co., called this weeks pattern of strength in the Dow and weakness in the broader Market a a very disturbing or disconcerting phenomenon. The Market is sending mixed signals a while the Dow is making new highs the broader Market is telling another Gene Seagle technical research director at Gruntal amp co., agreed there was a a growing feeling in the Market that the strength in the Dow is masking the weak Ness in the Broad Market a including the a amp a 500 Index and the Nash a. Despite the divergence Seagle said he still believes the Dow will reach 3800 a by c new York Exchange new York Dpi a the 15 most Active stocks in new change York Stock Exchange composite trading on Friday. Slock Merck amp co inc at Woods pc ism corp Hanson pc Chrysler corp Borden inc Tel Fonos de my Paramount comm Abbott Labi inc Etc corp limited inc Columbia hither Rwjr Nabisco hid Philip Morris Motorola inc salts 4.507.100 3,938,300 3.857.400 3.624.600 3,177,9001 3.145.400 2.644.000 2,592,900 2.358.600 1.662.400 1.816.700 1.614.000 1.700.100 1,657,500 1.589.700 Lull 33. 9 55 19 56 16 61 81 28 31 in 32 6 54 88 net cd. Off up up off up 3 up up off off off Inch up off off off 2 the end of the year. The Iii Arket is becoming More attuned to the fact that we re having a better Economy although not an explosive one which Means better for the week the Dow Jones Industrial average a which bounced Back 20.12 Points or 0.55 percent last week a climbed 36.60 Points or 0.99 percent to a new All time High 3740.67. The new York Stock Exchange composite Index inched up 0.19 Point to end the week at 256.93, but the Standard amp poor a 500 Index eased 0.96 Point to 463.93. American Exchange new York up a american Stock Exchange Slock Echo Bay mines Royal Oak mines Energy service Amdahl corp Jan Bell mtg Cheyenne softer Nabors Industry. Atari corp Weatherford inc Beta Well Sivc the 10 most Active stocks in composite trading Friday. Sale Lett net cd. 609,000 13 off 495,100 5 460,900 3 328.600 6 313,400 12 300.600 30 270,300 6 260,700 7 239.600 9 233,200 10 up up 116 up off off up off off up a a Dow Jones new York up Dow Jones closing Range of averages on Friday a. High Law close Cheng 3758.04 3704.91 3740.67up 10,89 1777.29 1751.86 1763.83 off 1.71 225.68 223.70 224.76 off 0.19 30 industrials 20 transport 15 utilities 65 stocks 1382.78 1364.00 1374.93 off 1.53 the Nash a composite Index dropped 11.48 Points or 1,49 percent to 760.74. Declines outdistanced advances 1,2881,205 among the 2,843 issues traded. Weekly big Board volume totalled 1,421,152,397 shares up from >1,376,-608,867 traded a week earlier and from 1,086,265,362 in the same week a year ago. Meanwhile. Viacom s doing just Fine chief says new York a a Day after Viacom inc lost a key Battle in the bidding War for Paramount communications inc., Viacom chairman Sumner Redstone said the fight is overshadowing his company a successes Viacom a Cable networks such As mtg and Nickelodeon Are expanding around the world Redstone told financial analysts at the annual Paine Webber inc. Media conference. The company is becoming a major player in video games audio compact discs books and videos he said. A Viacom is not Only in the midst of revolutionary growth. But its in a state of transformation with or without Paramount communications a Redstone said. A your activities that would have attracted wild attention in the past nobody pays any attention to Quot on thursday the Delaware supreme court upheld a lower court ruling that Paramount a Board failed to fulfil its duty to stockholders by not seriously considering an offer from ivc network inc. The $10.1 billion ivc bid is More generous than the $9.4 billion offer from Viacom Paramount a preferred merger partner. The court struck Down anti takeover defences that would have made it much More expensive for ivc an operator of Home shopping channels to buy Paramount an entertainment conglomerate with film and to programming sports teams and publishing. Paramount said Friday that its Board will meet monday in a regularly scheduled session and decide what procedures to follow in considering bids from Viacom ivc or anyone else. Viacom and ivc have been vying to take Over Paramount for nearly three months. Thursdays ruling set off speculation on Wall Street that Viacom will have to increase its offer. Some analysis suggested Redstone might abandon the fight altogether. Redstone was tight lipped Friday on Viacom a next move. . Could enter Landing fee dispute Washington a Federal officials will step in promptly if a dispute Between airlines and airports Over Landing fees threatens to disrupt . Aviation transportation Secretary Federico Pena said transportation department could audit an airports books and withhold Federal Aid if rate increases Are unreasonable he said. A the department will not Hesi Tate to use its existing Broad Legal authority to review the legality of proposed Airport rates and to take All necessary investigatory and enforcement actions a Pena said. The statement was prompted by a dispute Between los Angeles International Airport and the airline Industry. The airlines grudgingly agreed to pay millions of dollars in additional fees for Landing in los Angeles in a Deal that averted the threatened closing of the Airport. A to i m n r m h 41 48 h 11 m n it a k 14 21 41 it 11 a n i m a 11 i 41 i 41 i 41 i m i of i u i 31 i 41 i 19 14 a
