The latest performance report highlights significant variances across sectors, with PCB leading at 11.39% and consumer goods at 7.78%. In contrast, the automotive sector and telecoms show declines of -1.97% and -2.22%, respectively, while pharmaceuticals and energy face steep drops of -14.46% and -32.22%. In the banking sector, Commerzbank is rated positively, while Deutsche Bank is under observation due to high volatility. Year-to-date, Erste Group has surged by 60.3%, contrasting sharply with Sberbank's staggering -72.73% decline.
The Vienna Stock Exchange experienced losses on Tuesday, with the ATX index dropping 0.92% to 3,589.88 points amid cautious sentiment ahead of the Fed's monetary policy decision. EVN shares fell 8.2% after reporting lower revenue and profit, while insurance stocks like Vienna Insurance Group and Uniqa gained. Economic data showed mixed signals, with a surprising drop in Germany's Ifo business climate index and a decline in US industrial production, although retail sales rose ahead of the holiday season.
Erste Group Bank AG shares have surged 60% this year, outperforming peers in the CEE banking sector. Despite raising the price target from EUR 52 to EUR 62, Raiffeisen Bank International AG maintains a "Hold" recommendation, citing macroeconomic uncertainties and limited potential for positive surprises ahead. The outlook suggests a sideways trend in profits until 2026, influenced by economic challenges and upcoming monetary easing.
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