VIENNA (dpa-AFX) – The Vienna Stock Exchange fell sharply on Tuesday. ATX ended the day 3.12 percent lower at 2,779.26 points. The index was particularly saddled with significant losses to OMV’s eight percent share. The broader ATX Prime index fell 2.97 percent to 1409.91 points.
Other stock markets also fell significantly in light of the interest rate and the spread of economic concerns. Against this background, the euro fell below $1.03 and thus to its lowest level since 2002.
Economic data out of Europe in the morning reinforced economic concerns. French industrial production fell in May on an annual basis. Business confidence in the Eurozone also deteriorated significantly in June.
According to observers, concerns about the economy were also supported by uncertainties surrounding energy supplies. In this environment, central banks face a tight run: high inflation weighs on consumer sentiment, but counter-rate hikes could slow the economy even more.
Oil prices also fell sharply due to fears of a recession and thus weak demand for oil. As a result, oil values were poor across Europe. In Vienna, shares of the oil and gas group OMV fell 8.3% to 39.77 euros, making it the biggest loser. Field supplier bonds, Schoeller-Bleckmann, lost 3.75 percent to 53.90 euros.
AT&S and Vienna Insurance Group (Vienna Insurance) also posted significant losses of 5.2% each. The heavyweight voestalpine (minus 4.4 percent) and Wienerberger (minus 4.0 percent) performed poorly with the larger sizes. Among the few winners were construction and real estate stocks such as Burr (up 2.3%) and CA Immobilien (up 1.8%). / mik / ger / apa / jha
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