Vienna shares end: Profits - OMV rise

VIENNA (dpa-AFX) - The Viennese stock market continued the positive trend from the previous day on Wednesday and closed again with gains. The ATX gained 16,29 points, or 0,47 percent, to 3506,33 units. At times, the domestic benchmark index had shown little movement before building a clear plus in the last hour of trading. The ATX Prime went 0,18 percent higher at 1778,75 points from trading.

The mood in the markets was also good in the middle of the week, even if it did not go up quite as clearly as yesterday's Tuesday. Slight premiums were also observed on the leading European exchanges.

Economic data published in the morning evidently received little attention on the market. Even before the stock market launch in Europe, numbers from German retailers made the start. In April, their sales fell by a whopping 5,5 percent compared to the previous year. Analysts had actually expected a much smaller setback of 2,5 percent.

In addition, producer prices for the euro zone for April were published. Compared to the previous year, the price increase was a clear 7,6 percent. This means that prices have risen as strongly as they did last in 2008. Following the significant rise in consumer prices reported yesterday, these data should also underline the picture of rising inflation.

In terms of individual stocks, the focus was on the one hand on the stocks of OMV. These rose by a clear 2,55 percent. The evening before, the oil and gas group's supervisory board had agreed on Alfred Stern as the successor to the outgoing OMV boss Rainer Seele and thus made an important directional decision. Stern was previously head of OMV's chemical subsidiary Borealis and is to continue OMV's change of strategy, away from oil and gas and towards more chemicals.

Lenzing's share certificates went out of business with a clear plus of 2,18 percent. The fiber manufacturer will in future be working with the Swedish pulp producer Södra on textile recycling. A corresponding cooperation agreement was signed today, Wednesday.

Without a current company report, the Vienna Airport titles were also well sought after, with a premium of 3,24 percent. The shares of Raiffeisen Bank International closed just as more firmly, rising by 2,31 percent. Palfinger climbed 2,78 percent.

For AT & S's paper, however, it went down by 3,80 percent. This means that the shares in the Styrian technology group returned a little after the price rally on yesterday's trading day, with a full plus of over 17 percent.

The stocks of the steel group voestalpine also closed 0,84 percent lower at EUR 37,66. According to market observers, the UBS analysts have started coverage of voest shares with a price target of EUR 30,40 and a sell recommendation.

UBM's titles lost 0,46 percent to 43,00 euros. There was also an analyst comment on this. On the one hand, the Erste Group experts raised their target price from EUR 43,0 to EUR 50,0. However, they downgraded their investment rating from “Buy” to “Accumulate”.