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Recently leading index 1.47 percent higher – further price increase after 7.60 percent higher than the previous day – hope for Covid-19 vaccine continues
The Vienna Stock Exchange showed a significantly firmer trend on Tuesday afternoon. The leading Austrian ATX index continued to climb after its huge price jump from the previous day. Around 2:20 p.m. it traded 1.47 percent higher at 2,351.00 points.
Hope for an early Covid-19 vaccine sent TXA soaring 7.60 percent on Monday. The German pharmaceutical company BioNTech and its US partner Pfizer had submitted successful study data with a corona vaccine, which is crucial for approval.
In terms of individual stocks, like the day before, there was strong demand for oil stocks and economically sensitive bank stocks. In the oil sector, OMV shares rose 6.46 percent and Schoeller-Bleckmann shares rose 4.49 percent. In banks, Erste Group shares gained 3.72 percent, Raiffeisen shares 3.23 percent and BAWAG shares 2.92 percent.
There was also strong demand for Flughafen Wien papers with an increase of 5.28 percent. Hopes for a Covid 19 vaccine had already risen by nearly 15 percent the day before. Do & Co stocks, on the other hand, came back from their massive gains the day before and recently lost 8.29 percent. They soared more than 34 percent on Monday.
Voestalpine shares were unable to sustain their initial price gains. After rising by more than three percent in early trading, they recently lost a clear 1.47 percent. The steel group fell deeply into the red in the first half of the 2020/21 financial year. At the same time, according to the company, there was a notable recovery in key sectors in the second quarter.
New analyst estimates were also available. Berenberg Bank has raised its target price for Wienerberger shares from EUR 27.00 to EUR 30.00 and confirmed its “Buy” recommendation. The building materials manufacturer title recently rose 0.58 percent to 24.10 euros.
Meanwhile, Baader Bank confirmed its “Buy” recommendation and its € 42.00 target price for Andritz shares based on its latest figures. Throughout the year, they increased 1.35 percent to 33.02 euros.
Semperit shares were under heavy pressure again, down 7.93 percent. They were already down almost eight and a half percent the day before. The company had previously raised its forecast for the third time this year on Friday. The rubber processor benefited from the high demand for medical protective gloves during the crown crisis. However, given the signs that a Covid-19 vaccine will be available soon, it could drop again for the foreseeable future.
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