VIENNA (dpa-AFX) – The Vienna Stock Exchange closed on Monday with a weaker trend. The leading index ATX fell by 0.57 percent to 3,823.39 points. The ATX Prime closed with a loss of 0.53 percent at 1,907.29 points.
The leading European stock exchanges also started the new trading week mostly weaker. Market observers pointed to the weak US tech sector. Above all, the obvious success of the Chinese AI start-up DeepSeek caused severe losses there. The new AI model DeepSeek R1 is said to be significantly more cost-effective and uses less powerful chips than the large AI models from established US providers.
Economic data from Germany also came into the focus of investors at the start of the week: the gloomy mood in the executive suites of companies surprisingly improved somewhat at the beginning of the year. The Ifo business climate index, the most important barometer for the German economy, rose slightly. Although companies assessed their business situation somewhat more optimistically than recently, they were more skeptical about their prospects for the coming months.
Among the bank stocks in Vienna, BAWAG was weaker with a loss of 1.6 percent. Erste Group (Erste Group Bank) lost 0.5 percent. Raiffeisen shares, however, closed 0.6 percent higher.
Verbund stocks closed significantly lower among the other index heavyweights, losing a good three percent. OMV shares fell by 0.9 percent. Andritz, on the other hand, rose by 1.5 percent and voestalpine closed 0.8 percent higher.
Strabag shares gained 5.2 percent at the top end of the price list. The construction group has significantly increased its earnings forecast for 2024. Austria’s largest construction company now expects an operating profit margin (EBIT margin) of “close to 6 percent”, previously “at least 4 percent” was expected. Construction output for the year as a whole is expected to be around the same level as the previous year at 19.2 billion euros.
Pierer Mobility shares lost a significant 10.6 percent after profits on Friday. At the extraordinary general meeting, the shareholders of KTM parent Pierer Mobility approved the planned capital increase. In addition, the shareholders approved the appointment of Remus co-owner and CEO Stephan Zöchling as a supervisory board member, according to the documents published on the Pierer homepage./ger/ste/APA/jha