VIENNA (dpa-AFX) – The Vienna Stock Exchange closed on Wednesday with slightly lower prices. The leading index ATX lost 0.39 percent and closed at 3073.47 points. However, the international environment appeared friendly in the run-up to the US interest rate decision that was due that evening.
It is generally expected that the American monetary authorities will leave interest rates unchanged for the second time in a row. The US Federal Reserve’s statements on further interest rate developments will therefore be crucial.
Markets received some support from plans for new US Treasury bond issues by the Treasury Department. The planned increase was slightly lower than economists expected. This emerges from the bond issuance plan for this quarter published on Wednesday.
Before the interest rate decision, investors also focused on current US data: According to the report by the private labor market service provider ADP, more jobs were created in the private sector in October than expected, but the increase was lower than expected. Construction spending in the US increased in September as expected.
Furthermore, the mood in US industry deteriorated noticeably in October. The ISM Purchasing Managers’ Index fell by 2.3 points to 46.7 points compared to the previous month. Analysts on average had expected stagnation.
Among the individual stocks, Palfinger was one of the bigger losers with a discount of 3.7 percent to 22.00 euros. The analysts at Deutsche Bank Research have confirmed their “Buy” recommendation for the shares. The price target was reduced from 43.0 to 36.0 euros.
The Deutsche Bank experts have also confirmed their “Buy” recommendation for the shares of Erste Group (Erste Group Bank). The price target was raised from 45.0 to 48.0 euros. Erste Group shares closed 0.2 percent lower at 33.68 euros.
Among the other bank stocks, however, Raiffeisen was able to increase by 1.2 percent and BAWAG rose by 0.9 percent. When it comes to oil stocks, OMV slipped 2.6 percent into the red and Schoeller-Bleckmann fell by 0.4 percent./ger/mik/APA/men