Vienna Stock Exchange opens with little movement after Easter weekend

Vienna Stock Exchange opens with little movement after Easter weekend

The Vienna stock market is expected to show little change at the start of trading after the long Easter weekend. An indication for the leading index ATX shows a minimal increase of 0.01 percent. The focus is on economic data from China, which shows a more optimistic business situation in the manufacturing sector. The purchasing managers' index for March rose to 50.8 points. Upcoming consumer prices from Germany could influence interest rate expectations, while purchasing managers' indices from Italy and Spain will also receive attention.

The company news from RHI Magnesita and Palfinger is particularly eye-catching. RHI Magnesita plans to acquire US company Resco Group, which operates in the US, UK and Canada, for an estimated value of up to $430 million. On the other hand, due to low order intake in the core EMEA region, consisting of Europe, the Middle East and Africa, Palfinger is reducing production and forecasts for 2024. This is expected to lead to a slight decline in sales compared to the previous year and a 20% lower operating result.

On the previous Maundy Thursday, the ATX closed 0.35 percent higher at 3,535.79 points. Semperit was the strongest performer in the prime market after the company's CEO purchased shares. The biggest price winners on Thursday were Semperit, Agrana and Marinomed, while the biggest losers were Immofinanz, Strabag and Verbund. The ISIN of ATX is AT0000999982.