VIENNA (dpa-AFX) – The Vienna Stock Exchange started the week with losses on Monday. The ATX ended the trading day with a loss of 0.66 percent and 3137.93 points. The broader ATX prime fell by 0.78 percent to 1583.73 points. Other European markets also fell at the beginning of the week.
The stock markets were weighed down by concerns about interest rate increases and the economy. The ifo index showed a slight deterioration in the business climate in Germany. The head of the ECB also fears Christine Lagarde continued weak economic activity, as she said on Monday in a regular hearing before the Economic and Monetary Affairs Committee of the EU Parliament. At the same time, Lagarde reiterated that the ECB would keep interest rates high for as long as necessary to reduce inflation.
However, there was no important company news on the reporting day. However, the price development of stock market debutant EuroTeleSites will continue to be monitored closely. The shares of the radio tower subsidiary spun off from Telekom Austria lost 1.8 percent to 5.40 euros on their second day of trading, after gaining a good 11 percent at their IPO on Friday.
The biggest losers in the prime market were Semperit with a loss of 4.3 percent and Do&Co with a discount of 3.6 percent. Among the heavyweights, shares in the steel group Voestalpine lost 2.3 percent. Steel stocks also fell on other stock exchanges following bad news from China’s real estate industry. The only winners in the prime market were the shares of the two electricity suppliers EVN (plus 0.8 percent) and Verbund (plus 0.7 percent), followed by the real estate stocks CA Immo (plus 0.3 percent) and Immofinanz (plus 0.1 Percent).
According to a new analyst rating, Vienna Airport shares closed unchanged from the previous day at 46.80 euros. The analysts at Raiffeisen Research have resumed their coverage of the stocks with a price target of EUR 48.5 and a “hold” recommendation. The experts are optimistic that the airport operator can benefit from the expected increase in traffic and organic growth, but given the valuation levels, they currently see little upside potential for the airport share.
Fears of inflation and interest rates are likely to remain the dominant theme as the week progresses. Against this background, the data on the money supply and inflation in the coming weeks are also eagerly awaited Eurozone. Stock marketers also hope that the numbers will provide information about the ECB’s upcoming interest rate decisions./mik/ste/APA/nas