Vienna (dpa-AFX) – Vienna's stock market ended slightly higher on Thursday after the ECB announced its key interest rate decision. ATX rose 0.20 percent to 3437.99 points. At the end of the session there was mainly a slightly positive trend in leading European stock markets.
Despite growing economic concerns, eurozone watchdogs did not initially give in to calls for interest rate cuts. The key interest rate at which banks in the euro zone borrow new money from the European Central Bank (ECB) will initially be 4.5 percent, as expected by experts. There is consensus in the ECB Council that “it is premature to discuss interest rate cuts,” ECB President Christine Lagarde said. At the World Economic Forum in Davos, he said an interest rate cut this summer is highly likely.
In Vienna, analysts at Erste Group raised their investment rating on Pavak shares from “Hold” to “Accumulate”. At the same time, the price target on the stock was raised from EUR 50.00 to EUR 56.00. The price rose 0.4 percent to 49.24 euros.
Additionally, Berenberg Bank reaffirmed a “buy” recommendation on shares of Weinerberger in an industry research. A EUR 35.00 price target on the brick maker's shares was also left unchanged. Weinerberger shares rose 0.3 percent to 30.00 euros.
At the organizational level, the news situation was very thin. Overweight banks Erste Group and Raiffeisen Bank International went in different directions with 0.2 percent and minus 0.8 percent. Among other heavyweights, OMV shares rose 1.1 percent. The electricity supply verbatim increased by 0.4 percent.
Papers from fiber maker Lensing lost 3.2 percent. Shares in Salzburg crane maker Balfinger fell 1.5 percent./ste/spa/APA/jha
