Economy, trade and finance: Vienna stocks Conclusion: in the red

Raiffeisen Bank International slipped in a banking sector that slowed across Europe The German company Biontech and the American pharmaceutical company Pfizer had announced positive results in the decisive study with their corona vaccine earlier this week. Consequently, the vaccine offers more than 90 percent protection against Covid-19. On the date of the report, profit taking began and share prices fell.

In a banking sector that slowed across Europe, Raiffeisen Bank International (RBI) fell 2.1 percent in the red. In the crisis of 2020, RBI had to accept a drop in net profit of 31.5 percent to 599 million euros after nine months. “We will close this financial year on a profit and generate a return on group equity in the mid-single digit range. Despite the new lockdown, we maintain our outlook unchanged,” said the bank’s chief executive, Johann Strobl.

Mayr-Melnhof and Strabag also provided trade figures. Shares in construction company Strabag rose 0.5 percent. After the third quarter, the Austrian construction giant is on track for the whole year. Production should be 15,000 million euros in 2020, after 16,600 million euros the previous year, and the operating EBIT margin of at least 3.5 percent; In 2019 it was 3.8 percent. From January to the end of September, production fell 9 percent to 11.10 billion euros, and the order book grew 7 percent to 18.96 billion euros.

Mayr-Melnhof yielded two percent. In the first three quarters of 2020, the carton maker achieved slightly lower sales and significantly lower profits than in the same period last year. As a result of one-off effects related to the market and structure, the result plummeted 20.5 percent to 116.3 million euros and sales fell a low of 1.1 percent to 1,903 million euros.

According to a more positive expert opinion, Wienerberger closed with a lead of 0.3 percent at 24.56 euros. Analysts at Raiffeisen Centrobank (RCB) have revised the target price of the shares up from EUR 25.00 to EUR 28.00. The “Buy” recommendation for the domestic brick maker’s stocks was also confirmed after surprisingly strong third-quarter figures.

The most notable price movements were made by the FACC newspapers at a discount of 6.1 percent. At the other end of the course list, caterer DO&CO titles were up 3.1 percent.