Economy, Trade & Finance: Vienna Stocks Conclusion: Weak US data and fears of inflation

In the morning, the prospect of loosening the lockdowns in some parts of Europe’s stock exchanges had driven. After surprisingly weak US labor market data, the markets came back in late trading.

The number of employees in the USA rose surprisingly weakly by 117,000 compared to the month, announced the employment service provider ADP. The ADP report is considered the first reference to the US government’s official labor market report. Sentiment on the stock market was also negatively impacted by the renewed rise in US bond yields, which brought fears of inflation back into focus.

Raiffeisen Bank International was in great demand in Vienna and gained 3.47 percent. Bawag were also among the daily winners with a plus of 2.43 percent. Among the industrial heavyweights, Voestalpine and Wienerberger posted profits of around two percent. Verbund closed very weakly with a minus of 5.04 percent.

Lenzing shares also came under pressure and lost 5.35 percent. House searches were carried out on Tuesday at two locations of the Hygiene Austria joint venture operated by Lenzing and Palmers, as the company confirmed. The background is the suspicion that protective masks produced in China were incorrectly labeled and sold as Austrian products. The Federal Procurement Company BBG has already reacted and made the company “inactive” as a contractor.

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After reporting quarterly figures, Andritz was able to increase significantly at times, but then fell slightly into the red and closed 0.39 percent lower. In 2020 as a whole, the system manufacturer kept sales stable at 6.7 billion euros and increased profits by 66 percent to 203.7 million euros. In an initial reaction to the figures, the analysts at Baader Bank confirmed their “buy” recommendation and their price target of EUR 50 for the Andritz share.


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