Economy, Trade & Finance: Vienna Stocks Conclusion: Weak bank stocks weigh on ATX

Economy, Trade & Finance: Vienna Stocks Conclusion: Weak bank stocks weigh on ATX

Economy, Trade & Finance: Vienna Stocks Conclusion: Weak bank stocks weigh on ATX

On the reporting day, there was a mixed mood on the leading European exchanges. Across Europe, something slowed the fact that there is still no breakthrough in the desired trade agreement between Great Britain and the European Union, which is to apply after Brexit at the end of the year. The European Union is already preparing for the failure of the negotiations on the Brexit trade pact in order to alleviate the feared chaos at the turn of the year.

Some selling pressure came from the heavyweight banks. BAWAG shareholders had to post a minus of 2.9 percent. Raiffeisen Bank International fell 2.0 percent and Erste Group fell 1.4 percent.

Mayr-Melnhof and Vienna Airport moved into the focus of investors with company news. The Mayr-Melnhof Group is buying Kotkamills in Finland for around 425 million euros. As a result, the Austrian company will expand its position in the market for fresh fiber board (FBB) and Food Service Board (FSB) and complement its market position in recycled cardboard. The Mayr-Melnhof share reacted with a significant price increase of 4.2 percent.

Vienna Airport published traffic figures that showed that the dramatic decline in passengers at the largest domestic airport is continuing. In November only 181,115 passengers used the airport in Schwechat – 92.4 percent less than a year ago. The airport papers fell slightly by 0.2 percent.

The shares of FACC (minus 5.5 percent) and Palfinger (minus 4.1 percent) showed significant price losses. The Porr papers were down 2.8 percent.

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