VIENNA (dpa-AFX) – The Vienna Stock Exchange said goodbye to trading on Thursday with very strong discounts. The ATX weakened by a whopping 1.84 percent to 2647.43 units. The leading European stock exchanges also went deep into the red.
The analysts at Helaba referred to countless burdens and factors of uncertainty on the financial markets. “Concerns about a further escalation of the situation in Ukraine, high energy costs and inflation rates, rising interest rates and supply chain problems also as a result of the pandemic and also deteriorating economic expectations are to be mentioned and are clouding the prospects on the stock exchanges overall,” the experts formulated.
Additional selling pressure was exerted by another very weak mood on Wall Street in Europe on the reporting day. In addition, inflation in Europe’s leading economy, Germany, has jumped to its highest level in about 70 years. Driven by rising energy and food prices, consumer prices rose by 10.0 percent in September compared to the same month last year. This latest data has reinforced investors’ concerns that key interest rates will continue to rise sharply, which will weigh on the economy.
On the domestic market, the reporting situation at company level was very thin. The Lenzing share was under strong selling pressure with a price drop of 7.7 percent. In the technology sector, AT&S shares rattled down 4.2 percent. The papers of the automotive supplier Polytec slowed down by 4.1 percent and the shares of the catering company Do&Co fell four percent.
Among the heavyweights, shares in Verbund and Voestalpine came under significant selling pressure. The electricity supplier’s papers lost 4.1 percent of their market value. Voest titles fell by a further 3.8 percent. According to an industry study by JPMorgan, shares in the steel group had already fallen by around four percent the day before. The bank’s analysts confirmed their “underweight” recommendation for Voest shares and lowered their price target.
The shares of the heavily weighted banks were also clearly cheaper. The shareholders of Erste Group had to post a minus of 1.2 percent. Raiffeisen Bank International reduced by 2.5 percent. BAWAG fell by 2.3 percent.
With thin retail sales, Frequentis were able to resist the downward pull. The shares of the technology company increased by 4.2 percent./ste/sto/APA/nas