After a deep red trading day: Vienna Stock Exchange ends losing streak

The Vienna Stock Exchange closed higher on Tuesday, snapping a four-day losing streak. Fears of a U.S. recession have weighed on stocks since Friday. ATX By the close, it was up 0.72% to 3,468.36 units. However, the weekly decline was 6.3%.

The main European stock exchanges also saw a stabilization trend on Tuesday after recent strong declines. However, after Japan’s record decline at the beginning of the week, the strong rise in Tokyo stocks failed to significantly boost the Euro-Stoxx-50 index and its European counterparts on the reporting day. The recovery movement also emerged on Wall Street. The Eurozone Composite Index Euro Stoxx 50 Index As of the close, the stock rose slightly by 0.08% to 4,575.22 shares. In the past three trading days, its value has fallen by a total of 6.5%. Its price gains since the beginning of the year have been almost completely wiped out. German DAX Index By the close, Frankfurt also edged up 0.09% to 17,354.32 units, while London rose 0.09% to 17,354.32 units. FTSE 100 Index Up 0.23% to 8,026.69 points.

Soft landing or hard landing?

Until recently, the central question for analysts has been whether the U.S. economy will have a soft or hard landing. Most markets believe it will be the former, although the Federal Reserve could intervene with an emergency rate cut if markets become seriously volatile. Key economic data that provide insight into the U.S. economy were in short supply today.

In terms of domestic market stocks, focus on OMV shares, which rose 1.3%. In Libya, due to local protests, the production of Sharara oil field, which is partly owned by local companies, has declined. This has not had a lasting impact on the company’s share price.

As for other individual values, Lenzing grew by 4.3%. The day before, they recorded the largest price drop in the ATX. Only DO&CO had a larger increase in the ATX, up 5.1%.

Also in demand were the heavily weighted shares of the Erste Group, which rose by 0.8% to 43.89 euros on the back of an increase in the target price by Baader Bank. Expert Dieter Hein raised the six-month target price for the stock from 40.3 euros to 46.4 euros. However, the “reduce” vote remained unchanged.