Vienna Stock Exchange – H1 2024: ATX total return hits new all-time high, stock turnover increases

Vienna Stock Exchange returns to upward trend in first half of 2024 The performance of the Total ATX efficiency has seen a strong recovery in the first six months: the national benchmark index, including dividends, has reached a new all-time high and remains close to its peak. Equity trading volume is on the rise again in Vienna, although trading activity remains subdued across Europe. The Vienna Stock Exchange remains in a special position in bond listings, where it recorded the strongest first half of the year in its history. The listing of MWB AG marked a new addition to the SME segment direct market plusAnother international trading member, Jump Trading Europe BV, was linked to the trade in Vienna.

ATX, including dividends, ranks at record high

The national benchmark index performed very well in the first half of the year. The ATX Total Return (including dividends) gained 10.17% year-on-year (as of June 28, 2024, ATX excluding dividends: 5.08%) and has already set several new records in 2024, surpassing the previous record of February 9, 2022 (8,251.98 points). The last all-time high was reached on May 21 at 8,566.58 points. With its performance, the ATX TR outperformed the German DAX (+8.86%), which also includes dividends. S IMMO AG (+76.00%), Addiko Bank AG (+49.81%) and FACC AG (+38.94%) achieved the best performances of the ATX Prime in the first half of the year. The market capitalization of all companies listed in Vienna amounted to 130.21 billion euros at the end of June.

“To get a complete picture of the return on an investment, dividends should always be taken into account. In this respect, the Austrian market performed well despite the ongoing economic uncertainties and reached a new record level. The average dividend yield in Austria is 5.7 percent. This underlines the resilience and solidity of the dividends of Austria's leading companies, which traditionally pay high dividends and are therefore very attractive to international investors,” says Christoph Boschan, CEO of the Vienna Stock Exchange.

Historically, the best first half for bond listings

The number of bonds listed on the Vienna MTF continues to grow. As of June 28, 6,116 new bonds were listed in Vienna, more than ever in the first half of the year. The Vienna Stock Exchange thus confirms its position as one of the most active bond listing venues in Europe and currently serves more than 1,000 active bond issuers from 39 countries with a total volume of around EUR 800 billion.

The Vienna Stock Exchange continues to score points with issuers that focus on ESG: In the first half of the year, UniCredit Bank Austria AG and the national utility company VERBUND AG successfully issued green bonds with EUR 750 million. These are included in the Vienna ESG Segmentwhich is specially designed for sustainable bonds and has already been listed more than 100 times for a volume of around EUR 27.5 billion. This demonstrates once again the great importance of the capital market for the green transformation of the economy.

A significant change has been made to the negotiation procedure for Austrian Government Bonds:Since March, these securities have been tradable all day long on the Vienna Stock Exchange. Private investors in particular benefit from the continued liquidity and high price quality ensured by the market makers Erste Group and Raiffeisen Bank International.

Equity turnover rebounds

In the first half of the year, trading activity and volumes were low, as on most European stock exchanges. In the second quarter, equity trading volumes increased further compared to the previous year, reaching EUR 5.21 billion in April (2023: EUR 3.83 billion), EUR 5.10 billion in May (2023: EUR 4.52 billion) and EUR 6.37 billion in June (2023: EUR 4.55 billion). The average monthly equity trading volume was EUR 5.16 billion in the first half of the year (2023: EUR 5.00 billion). The strongest trading days in the first two quarters were 15 March (EUR 813 million), 31 May (EUR 553 million) and 21 June (EUR 802 million). The most actively traded Austrian stocks as of June 28 were Erste Group Bank AG (EUR 5.1 billion), OMV AG (EUR 4.4 billion), VERBUND AG (EUR 2.8 billion), Wienerberger AG (EUR 2.7 billion) and CA Immobilien Anlagen AG (EUR 2.4 billion).

“To sustainably increase the liquidity of European financial markets, there must be political will to create substantial pools of capital. For example, pension funds should invest more in listed companies. Capital market-oriented retirement provision is a very effective approach, as several European countries have shown. Austria should also take this step,” demands Christoph Boschan.

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