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Economics, Trade and Finance: Vienna Stocks Conclusion: ATX closing hardly changes

Oil stocks and banks are dragging ATX down

Economic data from the Euro-Zone and the US were on the agenda on Friday. Industrial production in the euro zone fell less than expected in September. However, manufacturers are still burdened with constant supply bottlenecks.

In addition, inflationary pressures remain high in the euro area. Consumer prices in Spain in October were 5.4 percent higher than in the same month last year. In Germany, wholesale prices in October rose by a whopping 15.2% compared to the previous year, their highest level in 47 years.

US data was disappointing in the afternoon. The Consumer Confidence Index compiled by the University of Michigan decreased from the previous month by 4.9 to 66.8 points, the lowest level in ten years. The consumer climate has been negatively affected by the persistent fears of inflation.

Ahead of the weekend, losses in some particularly heavy indicators had a negative impact on ATX. This is how he was given the title of the oil company OMV by 2.6 percent. In addition, bank shares fell significantly. Addiko Bank shares closed 2.1% lower, Raiffeisen Bank International shares lost 2.6%, and Erste Group shares fell about 3%.

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