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Austrian Stocks: A-Tec Industries, Immofinanz, Strabag Move

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Dec. 1 (Bloomberg) -- Austria’s benchmark ATX Index rose the most since May, climbing 3.7 percent to 2,705.14 at the 5:30 p.m. close in Vienna trading.

The following were among the most active stocks in the Austrian market today. Symbols are in parentheses.

A-Tec Industries AG (ATEC AV) fell for a third day, declining 3.7 percent to 1.83 euros. The Austrian engineering company that filed for insolvency protection last month said earnings before interest and taxes were “negative” in the third quarter, without providing a figure. Sales in the period dropped 8.4 percent from a year earlier to 618.5 million euros.

Immofinanz AG (IIA AV) rose for the first time in five days, climbing 4.2 percent to 2.85 euros. Austria’s biggest property developer is likely to “opt for an optimal convertible refinancing structure,” according to Matthias Pfeifenberger, an analyst at Deutsche Bank AG. The brokerage raised its share price estimate to 3.60 euros from 3.50 euros, citing the “inclusion of treasury shares already owned.”

Strabag SE (STR AV) advanced 4 percent to 18.57 euros, rising the most since Nov. 9. Central Europe’s biggest construction company had its share price estimate raised to 22.40 euros from 21.40 euros at Goldman Sachs Group Inc.

To contact the reporter on this story: Zoe Schneeweiss in Vienna at zschneeweiss@bloomberg.net.

To contact the editor responsible for this story: Angela Cullen at acullen8@bloomberg.net.

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