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The Vienna Stock Exchange was weaker on Thursday afternoon after the recent rapid rise. Austria’s leading ATX index fell 1.35 percent to 2,373.76 points around 12 noon. In the previous three business days, fueled by hopes for an imminent Covid-19 vaccine, it had risen sharply more than eleven percent. Profit taking is now starting across Europe.
On the business side, Raiffeisen Bank International (RBI) and Mayr-Melnhof with quarterly figures, as well as Strabag with a quarterly interim report, moved to focus on national stock market players. In the crisis of 2020, after nine months, RBI had to accept a drop in net profit of 31.5 percent to 599 million euros. “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. RBI shares reacted in a weak environment with a 2.9 percent discount.
Strabag fell 1.3 percent. After the third quarter, the Austrian construction giant is on track for the whole year. Production is expected to be 15 billion euros in 2020, after 16.6 billion 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 September, production fell 9 percent to 11.10 billion euros, and the order book grew 7 percent to 18.96 billion euros.
Mayr-Melnhof gave up 1.2 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 slightly 1.1 percent to 1,903 million euros.
The most notable price move was FACC stock with minus 5.2 percent. At the other end of the price list, Semperit shares gained 2.3 percent. Among heavyweights, Erste Group was 2.2 percent cheaper. OMV shares fell 1.8 percent and Verbund shares fell 2.3 percent.
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