Die Vienna Insurance Group According to one expert, the markets are beginning to calm down. Good indications from Asia brightened the mood on the markets in the morning. According to experts, confidence is increasing that the corona lockdown in Shanghai could be relaxed. No new infections were reported in the Chinese metropolis for the third day in a row, which is a condition for easing the strict virus measures.
In the afternoon, friendly trending Wall Street provided additional support. Economic data from Europe also surprised positively: According to the latest figures, the economy in the euro zone grew somewhat more strongly than expected in the winter. In addition, inflation in Italy weakened somewhat from a high level.
Good economic data also came from the USA: Consumption in the world’s largest economy shows no signs of weakness. Retail sales picked up again in April, albeit slightly weaker than expected. In addition, US industry increased its production again in April.
In addition, company figures caused movement in Vienna. According to the figures, AT&S shares rose by 7.55 percent. In the 2021/22 financial year, the circuit board manufacturer saw strong growth in both sales and profits. Now there should be a special dividend in addition to a basic dividend.
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Die Vienna Insurance Group (VIG), which is also represented in Ukraine, has made provisions of around EUR 75 million due to the ongoing uncertain development in the country and the difficult to assess economic effects. In the further financial year, such a dynamic development as in the first quarter is no longer to be expected, explained VIG. Shares closed 0.2 percent higher.
The shares of the First group which rose by a good six percent in a strong European banking sector. Bawag gained 1.8 percent and Raiffeisen increased by 2.3 percent.
The Austrian Post titles were among the biggest winners with a plus of 2.9 percent. Wienerberger increased by 3.5 percent, and Voestalpine gained almost two percent in value.