The Vienna Stock Exchange saw the ATX index drop 0.71% to 3,774.20 points amid rising uncertainty over US trade policies and disappointing economic expectations from Germany. Raiffeisen shares fell 4.5% due to a court ruling requiring a significant provision, while other banking stocks showed mixed results. Telekom Austria's recommendation was upgraded despite a slight target price reduction, and DO&CO's shares remained stable with a confirmed "buy" rating.
The Vienna Stock Exchange saw the ATX drop 0.53% to 3,781.01 points amid a cautious environment, influenced by a significant decline in German economic expectations. Raiffeisen shares fell 3.5% following a Russian court ruling requiring a €2 billion provision, while Telekom Austria's stock dipped 0.5% despite an upgraded investment recommendation.
Reinhard Schwendtbauer Appointed CEO of Raiffeisen Oberösterreich Starting May 1
Reinhard Schwendtbauer will succeed Heinrich Schaller as CEO of Raiffeisen Landesbank Oberösterreich on May 1, following a decision by the Supervisory Board. Schwendtbauer, a board member since 2012 and CFO, has streamlined the bank's investment portfolio significantly during his tenure. The transition marks a new chapter for the bank, with Schwendtbauer's extensive experience expected to address future challenges effectively.
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