VIENNA (dpa-AFX) – The Vienna stock market ended trading on Tuesday with moderate gains. The ATX gained 0.34 percent to 3,674.73 points. The ATX Prime gained 0.31 percent at 1,832.69 points.
US producer prices rose slightly slower than expected in December. The numbers may have dampened inflation and interest rate concerns in the USA somewhat.
A report that a team of advisors to US President-elect Donald Trump is considering a slow and gradual increase in tariffs may also have increased risk appetite in the market. This would also give the US Federal Reserve more leeway to lower key interest rates.
Lenzing’s shares fell sharply in Vienna, falling by 15.1 percent to 24.20 euros. Analysts at Berenberg recently lowered their price target for the fiber manufacturer’s shares from 32 to 30 euros. AT&S also lost 2.4 percent. Analysts at Deutsche Bank Research have lowered their investment recommendation for the shares of circuit board manufacturer AT&S from “Buy” to “Hold”.
The weak economic situation and falling sales prices have placed a heavy burden on the nine-month results of the listed sugar and starch group Agrana. Despite higher sales volumes, sales fell. The shares ended up trading 0.9 percent below the previous day’s value.
The shares of the partially state-owned oil, gas and chemicals group OMV lost 1.2 percent. OMV recorded a slight decline in overall production in the fourth quarter. Although the average production volume of oil and gas remained stable compared to the previous two quarters at around 337,000 barrels per day, there was a decrease of 7.4 percent compared to the quarter of the previous year.
There were profits in the bank stocks that are heavily weighted in Vienna. The shares of Raiffeisen Bank International (Raiffeisen) (RBI) rose by 2.9 percent. BAWAG shares rose by 2.4 percent and those of Erste Group (Erste Group Bank) by 0.7 percent./spo/spa/APA/jha