VIENNA (dpa-AFX) – The Vienna Stock Exchange fell further from its peak on Thursday. After a stable start, the prices gradually slipped into the red, and reports of an imminent extension of the ceasefire in the Middle East only caused a small jump in joy. After the record high in the middle of the week, this was apparently not enough to awaken new buying mood among investors. Solid company figures also met with little approval on the market.
At the end of trading, the ATX was 0.87 percent lower at 6,042.44 points. The ATX Prime fell by 0.84 percent to 2,987.50 points. Moderate losses were recorded in the European environment.
After fluctuations in both directions, the price of North Sea Brent oil is now back at just under $95 at the end of trading, the same level as the previous evening. Concerns about an escalation in the Iran war following mutual attacks gave way in the afternoon to hopes of an approaching agreement. According to a report by the news website Axios, the conflicting parties have agreed on a declaration of principles to extend the ceasefire for a period of 60 days. However, US President Donald Trump still has to give his final approval, it said.
In Vienna, the reporting season once again came into focus with figures from VIG (Vienna Insurance) and EVN, although the share price reactions were predominantly cautious. Vienna Insurance Group (VIG) stocks lost 2.6 percent despite an increase in sales and profits in the first quarter. The group confirmed the outlook for pre-tax profit for the full year. EVN shares fell 3.1 percent after the utility reported first-half sales and profit growth. The annual result should be within the forecast.
Analyst Christoph Schultes from Erste Group spoke of EVN’s “solid” figures, but some market participants would have hoped for an increase in the outlook. Baader expert Pierre-Alexandre Ramondenc also believes that the outlook indicates a cautious assessment by the supplier for the second half of the year. The expert maintained his “add” assessment based on the “mixed” set of figures.
The best ATX value was Porr with an increase of five percent to 38.25 euros. The analysis house Jefferies raised the price target from 37 to 42 euros and still recommends buying the share. Berenberg Bank also reiterated its buy recommendation and target price of 40 euros.
The heavily weighted bank stocks posted losses, which weighed on the ATX. Erste Group, BAWAG and RBI each fell between 0.8 and 1.8 percent. With regard to the former, Baader Bank raised its investment recommendation from “Reduce” to “Add”./spa/sto/APA/jha