ATX index slips as Austrian market retreats from record peak

The Austrian ATX closed at 6,527.59 points on Friday, essentially back on the previous day's level after briefly reaching a record high of just under 6,572 points earlier in the week. On a weekly basis the index recorded a gain of about 4.3%.

Banking stocks lifted the index, with Erste Group, BAWAG and Raiffeisen (RBI) each gaining up to 0.7%. By contrast, industrial and construction firms fell, most notably Voestalpine down 2.5% and Strabag down 3.7%. AT&S saw its earlier rally stall and ended unchanged. Analyst Michael Marschallinger noted that Erste Group lowered its target price for its own shares from €5.40 to €4.80, citing weaker earnings forecasts, lower revenue growth expectations and higher restructuring costs.

Trading volume was light after a US market holiday, and the market showed little reaction to developments in the Middle East despite ongoing uncertainty after the Iran war framework agreement and the cancellation of a US‑Iran meeting. Recent reports of a cease‑fire between Israel and Hezbollah provided limited support to oil prices, but had minimal impact on the ATX.