VIENNA (dpa-AFX) – The Vienna Stock Exchange closed with significant gains on Tuesday. The domestic leading index ATX rose by 1.57 percent to 3,903.44 points. The market-wide ATX Prime gained 1.50 percent to 1,954.96 points.
Other stock exchanges in Europe also went up on Tuesday. The latest fears of interest rate hikes have receded somewhat into the background and investors’ appetite for risk has increased again, it was said. The pressure on the ECB and other central banks to react to the high rates of inflation by raising interest rates is thus increasing, according to the basic tenor of many analysts.
AT&S were well sought after on Tuesday and gained 7.20 percent. Semiconductor stocks were also among the winners on other stock exchanges given the internationally better mood for technology stocks. With higher sales, voestalpine also closed firmly (plus 2.72 percent). There were larger charges in association (minus 0.69 percent).
OMV (OMV) shares rose by 1.22 percent to EUR 54.62 after a buy recommendation. The analysts at Berenberg recently confirmed their “buy” recommendation and price target of EUR 65.0 for shares in the oil and gas group.
Berenberg analyst Henry Tarr attests that OMV has attractive growth prospects, with the chemical business increasingly becoming a larger part of the business mix. The transformation, according to Tarr, could fuel a re-rating of the stock, which he says remains attractively valued.
The real estate sector continued to be in the limelight, where the battle for the takeover of IMMOFINANZ was all but decided. The winner was the Czech billionaire Radovan Vitek, whose CPI Property Group was the main shareholder with 35.5 percent of the Immofinanz shares.
s Immo is now offering him its 12.69 percent stake in Immofinanz and all those shares that it may still receive through its partial offer for Immofinanz became known on Monday. CPI and the 100 percent s-Immo subsidiary CEE Immobilien have agreed that CPI undertakes to increase the offer price of its mandatory offer from EUR 22.70 to EUR 23.00 per share. The improved CPI offer is to be published after approval by the Takeover Board and will be available to holders of all outstanding ordinary shares in Immofinanz.
Immofinanz shares closed on the stock exchange on Tuesday with a plus of 0.35 percent at EUR 23.10 and were therefore slightly above the level of the offer. The chance of an upgrade of the mandatory offer has decreased with the deal, analysts at Erste Group (Erste Group Bank) write. However, they also see no important reason to accept the offer now, since investors can continue to wait until the end of the offer period./mik/ger/APA/stk