Unaffected by Raiffeisen Break-In: The Vienna Lead Index ATX Holds Position

Midweek trading activities at the Vienna Stock Exchange remained robust despite a dramatic price plunge at Raiffeisen Bank International (RBI). The ATX, the benchmark of market activity in Austria, consistently held its ground, closing the trading day with no percentage change, anchored at 3453.91 points. The RBI notably made headlines as its shares were sent on a sharp downturn after a report circulated about United States authorities intervening in a billion-dollar deal of the bank. According to reports, the US financial regulators are demanding the Austrian banking institution to step back in the context of the delicate dealings involving the Russian oligarch Oleg Deripaska and his stakes in the construction company Strabag. The RBI confirmed that it had meticulously reviewed all relevant sanctions and informed the authorities about its transaction intentions. In stark contrast to RBI, the Lenzing Group saw its shares end the day with a handsome increase of 10.7 percent, suggesting a continued recovery trend. Also in the positive territory was the stock of Schoeller-Bleckmann Oilfield (SBO), which recorded a gain after the announcement of the annual results for 2023. The financial figures reflected a strong fiscal year and were within market participants' expectations. Additionally, the spotlight was on Andritz Group, which benefited from a target price increase to 81.1 Euros by the Vienna private bank. The plant engineering company’s shares closed with a slight price increase. From the real estate company CA Immo, financial figures were expected after the close of trading; the stock slightly fell before the announcement. Market participants were also waiting for signals from the US Federal Reserve, as no change in interest rates was expected in the evening, but indications of future interest rate policy were eagerly anticipated. The focus was especially on when the first rate cut might occur and to what extent the central bank might adjust interest rates over the course of the year.