The ATX was calculated at 12:00 p.m. with 3,248.99 points, which is a clear minus of 139.99 points or 4.13 percent. At the time mentioned above, the ATX Prime was down 3.88 percent at 1,643.10 points.
After a cautious start, the ATX turned negative again in the course of the morning and was thus in line with the European environment. The war in Ukraine continues with undiminished severity and insecurity remains high. Despite initial talks between the warring parties, there is still no sign of the situation calming down. Rising energy prices are also fueling inflation concerns, a market observer said.
Once again, the bank stocks were among the biggest losers among the individual stocks. Raiffeisen had to post a discount of 6.4 percent and Erste Group lost 5.5 percent. The analysts at Deutsche Bank have confirmed their “buy” recommendation for shares in Erste Group following the institute’s most recent figures. The target price of EUR 50.00 was also retained unchanged.
BAWAG lost 1.4 percent after the results were presented and a firmer start at midday. BAWAG increased its profit by around two thirds in the past 2021 financial year. The bank generated a net profit of EUR 480 million, which is 68 percent more than in the previous year. In view of the increase in earnings, investors can expect higher distributions. The bank now intends to propose a dividend of EUR 3.0 per share certificate at the general meeting on March 28.
Domestic suppliers had to give up ground after the recent significant gains. Verbund slipped a whopping 10.7 percent and EVN was listed 4.2 percent weaker at midday. Oil stocks also lost some ground. OMV was down 2.7 percent and Schoeller-Bleckmann was down 2.5 percent.
Data on price developments in Germany are due for publication in the early afternoon. In the US, the focus is on the ISM manufacturing index.
Source: Nachrichten
