News Flash

The Vienna Stock Exchange increases its stake in the Budapest Stock Exchange

ATX Committee Decisions

New listing: C-QUADRAT Investment AG

BT Securities is the first Romanian trading participant of the Vienna Stock Exchange

ATX Performance in May 2008

Specialist and market maker performance

Monthly statistic

Top-performers

Service/Editorial information

> Wealth gains tax uncertain - The planned tax to help cure the deficit of the health insurance organizations is no longer necessary after the latest agreement reached on a health reform package said Minister of Finance Molterer speaking to journalists at the Klub der Wirtschaftspublizisten. Therefore, the issue of the effectiveness of a wealth gains tax on capital investments will be reviewed again. At the same time, Minister Molterer presented his current plans to introduce “as fast as possible” a law to strengthen the capital market in order to promote risk capital for small and medium-sized companies. (Kurier, 11 Jun. 08)

> OeNB lowers GDP forecast – The international financial market crisis and the high commodity prices are significantly depressing the economy in the EU and thus also in Austria compared to the boom phase of the years 2006 and 2007. The central bank has lowered its forecasts for the domestic economy substantially. Inflation will hit 3.1% this year, which according to the OeNB is the highest level since 1993. A decline in inflation is expected for 2009 and 2010 to 2.4% and 1.9%, respectively. Employment growth is set to stay strong though, and the unemployment rate will drop to 4.2%. OeNB has thus adjusted its forecasts to those of Wifo and IHS. (APA, ORF.at, 09 June 2008)

> OeNB study: Austrians have EUR 465bn invested in securities – In the past ten years, investments in equities by private households increased by 288% to EUR 51.2bn. This is the finding of the latest study by the OeNB “Current investments in securities by Austrian investors” (Aktuelle Wertpapierveranlagungen österreichischer Investoren). Since the summer of the previous year, however, the value of stock portfolios has decreased by 20% (due to the financial crisis). By contrast to private households, Austrian stock funds are only weakly invested in the Vienna Stock Exchange: Only 14% of the volume of stock funds was invested in the Vienna Stock Exchange as of the end of 2007. By way of comparison: German stock funds invest up to 30% in Germany and French funds over 50% in France. (Die Presse, 6 June 2008)

> Exciting stock market summer ahead: RCB and Erste Bank remain cautiously optimistic – The ATX has recouped some of its losses in the past few weeks. Still, Stefan Maxian, Head of CEE Company Research at RCB remains cautiously optimistic. “The crisis is not over yet,” said Günther Artner, Chief Analyst of Erste Bank. However, the turbulence on the markets has diminished. “We are seeing more liquidity in the markets again,” said Maxian. Now that the first quarter is behind us, the worst is over. This view is shared by Günther Artner who also perceives a “slight easing” on the markets. He expects the ATX to hit 4,950 points by year-end. (Georg Krammer, ORF.at, 16 May 2008)

Wiener Börse AG, the exchange operating of the Vienna Stock Exchange, will be acquiring an additional 25.2% stake in the Budapest Stock Exchange, from UniCredit Bank Hungary Zrt. Subject to the approval of the relevant authorities Wiener Boerse AG will therefore hold a total share of 37.7% in the Budapest Stock Exchange. The total share held by the Austrian consortium is 68.8% and breaks down as follows: Oesterreichische Kontrollbank AG 12.5%, Raiffeisen Zentralbank Österreich AG 6.4%, Erste Group Bank AG 6.37%, and Erste Befektesi 5.85 %.

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On June 3, 2008, the ATX Committee resolved the inclusion of EVN AG (ISIN: AT0000741053, Short Code: EVN) in the ATX and the exclusion of Böhler-Uddeholm AG (ISIN: AT0000903851, short code: BUD).
The modification will be effective as of June 23, 2008.

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As of May 26, 2008, C-QUADRAT Investment AG (ISIN: AT0000613005, short code: C8I) has been included in prime market.

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The Vienna Stock Exchange (VSE) announces that, the Romanian broker BT Securities will trade as a direct trading member of its cash market. BT Securities is the second trading member from the new EU member states to join the VSE. BT Securities’ membership of the VSE confirms the growing interest of Central and Eastern European banks in the Austrian market.

BT Securities marks VSE’s second international trading member this year. All in all, 44 of 83 trading members of the VSE are foreign trading banks; by the end of April 2008, they accounted for more than two-thirds of stock trading volume with a share of 67.7%. The largest foreign investors in the ATX prime market are the US with 27.8%, followed by Great Britain with 22.9%, Germany with 10.1% and France with 6.2%. Poland is the first new EU member state that ranks among the top 10 investors in the ATX prime market (9th with 2.1%).

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The ATX closed at 4,394.71 points on 30 May, 2008, which is a loss of 2.62% over year-end 2007 (4,512.98 points). The monthly high was 4,532.10 points (19 May, 2008), the monthly low was 4,262.17 points (9 May, 2008). The change against previous month (4,264.79 points on 30 April, 2008) was + 3.05%.

The ATX Prime closed at 2,066.20 points on 30 May, 2008, which is a loss of 2.94% over year-end 2007 (2,128.73 points).The change against previous month (2,005.58 points on 30 April, 2008) was + 3.02%.

A list of the average fulfilment rates of the specialist and market maker obligations for the month of May 2008 for the cash and derivatives market is available on the website of Wiener Börse AG, www.wienerborse.at

Monthly statistic for May 2008.

Price gains in the prime market. Securities with specialists in the XETRA^® trading system.
 

		31 Dec 2007- 17 June 2008	31 Dec 2002- 17 June 2008
1	BRAIN FORCE Holding AG*	+ 26.56%	- 15.56%
2	INTERCELL AG**	+ 23.32%	+ 494.18%
3	VERBUNDGESELLSCHAFT AG KAT. A	+ 19.63%	+ 605.94%
4	OESTERR. POST AG***	+ 16.72%	+ 47.37%
5	SCHOELLER-BLECKMANN AG ****	+ 16.62%	+ 690.75%
6	SEMPERIT AG HOLDING	+ 15.40%	+ 130.98%

* first day of trading: 22 Mar 2004
** first day of trading: 28 Feb 2005
*** first day of trading: 31 May 2006
**** first day of trading: 27 Mar 2003

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