Customs dispute deepens, causing Viennese stock exchange to plummet

In the financial world, a mix of positive and negative trends emerged today, with the Vienna Stock Exchange experiencing a slight rise and a downturn, respectively.

The Vienna Stock Exchange showed only moderate gains this morning, with the ATX index inching up by 0.34%, following the European Central Bank's interest rate decision. However, the ATX posted a 3.1% loss on Friday morning, signalling a downturn.

One of the notable performers in Vienna was CA Immo, whose shares were in high demand. Analysts at Erste Group raised their recommendation for CA Immo stock to "Buy" and set a price target of 28.00 euros. As a result, CA Immo shares rose by 2.7% to 21.90 euros in morning trading.

However, the Vienna Stock Exchange slipped into the red on Friday morning, with some notable losses. Pierer Mobility shares fell by nearly 40%, while RHI Magnesita saw a 2.9% decline. BAWAG also experienced a 2.2% decline.

The cause of this downturn appears to be another escalation in the tariff conflict, with China announcing it would increase tariffs on US goods from 84 to 125%. This tariff increase is a response to the latest US tariff hike.

The Pacific trade war continues to rage on, causing potential global disruptions in supply chains and financial markets, according to analysts at Helaba.

On a positive note, Austrian company Rosenbauer reported a significant increase in revenue and operating profit. Rosenbauer's revenue increased by 23% to 1.306 billion euros, and the company reported a 73% increase in operating profit (EBIT) to 64.9 million euros for 2024. Following the release of these results, Rosenbauer shares rose by 1.0%.

In other news, JPMorgan, Wells Fargo, and Morgan Stanley will release their quarterly reports later in the day, and the University of Michigan's consumer sentiment data will be released in the afternoon. Additionally, the upcoming US producer price index data will be closely watched.

As the day progresses, it will be interesting to see how these developments unfold and impact the global financial market.