VIENNA (dpa-AFX) – The Vienna Stock Exchange ended trading on Friday with significant price gains. Driven primarily by the premiums of the utility shares, the leading Austrian index ATX climbed 1.58 percent to 3225.43 units, the broader ATX Prime closed 1.47 percent higher at 1615.74 points.
Ahead of the weekend, the Viennese government submitted an initiative proposal to the National Council for profit skimming for oil and gas companies and a revenue cap for electricity producers. This should generate two to four billion euros in revenue, which should be available to support households and companies. Part of the profits of oil and gas companies are to be skimmed off, while the revenues of electricity producers are to be capped.
The measures are limited to the end of 2023 and will apply retroactively to profit skimming from fossil fuel companies from July 1, and for the upper limit for electricity producers from December 1, 2022. Shares in utilities reacted to the news with significant price increases. Market participants had probably feared more drastic steps. The Verbund papers ended the session 8.9 percent higher, EVN climbed 6.4 percent. Oil stocks were mixed. OMV rose 1.6 percent, while Schoeller-Bleckmann closed 1.2 percent lower.
In addition, it remained very quiet on the reporting side, the reporting season took a break at the end of the week, and there were only a few publications on the data side as well. There was an analyst comment on Palfinger. The stock experts at Berenberg Bank have reduced the price target for the lifting device manufacturer’s shares from EUR 32.50 to EUR 30, while at the same time confirming the “buy” recommendation. The titles completely lost their historical gains and lost one percent to EUR 24.85.
According to an analyst comment, Wienerberger was able to gain two percent to EUR 25.28. The Wiener Privatbank has adjusted its price target for shares in the building materials group downwards from EUR 41.0 to EUR 39.9. At the same time, the “buy” investment recommendation was confirmed.
There was a larger price movement at Do&Co: The catering company had presented figures the day before and, according to its own statements, achieved the best half-year in terms of sales in the company’s history. The shares had given way on Thursday, at the end of the week they jumped 9.2 percent.
At the end of the week was s Immo, which lost a whopping 11.7 percent in value. “The takeover bid for s Immo expires today. After the share had already lost almost 10 percent this week, we expect further price falls in the coming week, as the s Immo share has hardly corrected this year,” write the experts at Erste Group ./kat/ste/APA/men