VIENNA (dpa-AFX) – The Vienna stock market closed slightly higher on Thursday after the announcement of the ECB’s key interest rate decision. The ATX gained 0.20 percent to 3437.99 points. There was a predominantly slightly positive trend on the leading European stock exchanges at the end of the session.
Despite increasing economic concerns, the euro currency watchdogs called for one Interest rate cut not for the time being. As experts expected, the key interest rate at which banks in the euro area can obtain fresh money from the European Central Bank (ECB) will initially remain at 4.5 percent. There is consensus in the ECB Council “that it is premature to discuss interest rate cuts,” said the ECB President Christine Lagarde. At the World Economic Forum in Davos, she said that an interest rate cut this summer was quite likely.
In Vienna, analysts from Erste Group reported and increased their investment rating for BAWAG shares from “Hold” to “Accumulate”. At the same time, the price target for the shares was revised upwards from EUR 50.00 to EUR 56.00. The price rose by 0.4 percent to 49.24 euros.
In addition, Berenberg Bank has confirmed its “Buy” recommendation for Wienerberger shares in an industry study. The price target of EUR 35.00 for the brick manufacturer’s shares was also left unchanged. The Wienerberger shares closed up 0.3 percent to 30.00 euros.
At the company level, the news situation was very thin. The heavily weighted banks Erste Group and Raiffeisen Bank International (Raiffeisen) went in different directions with plus 0.2 percent and minus 0.8 percent. Among the other heavyweights, OMV shares gained 1.1 percent. The electricity supplier Verbund saw an increase of 0.4 percent.
The papers of the fiber manufacturer Lenzing lost 3.2 percent. The shares of the Salzburg crane manufacturer Palfinger fell by 1.5 percent./ste/spa/APA/jha