Vienna Stock Exchange Q1 2026: Volatile Market Drives Equity Trading Turnover

A volatile market environment, characterised by geopolitical upheavals, led to exceptionally high trading activity on the Vienna Stock Exchange in the first quarter. At EUR 26.07 billion, equity turnover in the first three months reached its highest level in 15 years. The ATX, including dividends, reached an all-time high at the close on 18 February (14,195.81 points), before the conflict in the Gulf region put international markets under pressure. On 23 March, Palfinger AG replaced CPI Europe AG in the benchmark index. The market capitalisation of domestic companies listed in Vienna amounted to around EUR 181 billion as of 31 March.

"The leading role of national stock exchanges in terms of price quality and liquidity is particularly evident in volatile market phases: the Vienna Stock Exchange offers the deepest order books and tightest spreads in Austrian shares. For investors, the key is to stay calm and not be unsettled by short-term fluctuations – they are part of every investment journey. Those who think long term and diversify globally are choosing stocks as the most rewarding form of investment,” says Christoph Boschan, CEO of the Vienna Stock Exchange.

International equities offering continues to grow

The ongoing expansion of the international global market segment continued in the first quarter, including stocks from Slovenia and more than 30 constituents of the STOXX Europe 600 Index. Stocks of ASTA Energy Solutions, CSG, Gabler Group and VINCORION also became continuously tradable for Austrian investors immediately following their IPOs, without foreign transaction fees and during local trading hours. The global market is set to be further enhanced shortly with around 50 securities from the Deutsche Börse’s Prime Standard market segment. The global market comprises over 900 international securities from 28 countries.

Austrian "Aktienbarometer": Securities ownership in Austria on the rise

The trend towards investing in securities continues in Austria. According to the Austrian “Aktienbarometer” 2026, a study on securities ownership conducted by Peter Hajek on behalf of Aktienforum, the Federation of Austrian Industries and the Vienna Stock Exchange, 31% of the Austrian resident population aged 16 and over now own shares, ETFs and other securities. This represents a significant increase compared to the first survey in 2023 (25%). Respondents cite wealth accumulation, inflation hedging and pension provision as their main motives. Pension provision in particular has gained considerable importance in recent years. Furthermore, there remains a potential pool of around 1.4 million people who do not yet invest in securities but are interested in doing so.

“The rise in securities ownership shows that a capital market culture is increasingly taking root in Austria. Policymakers could make good use of this momentum: it is crucial that this growing interest translates into substantial volumes of capital. This requires closer integration of state-organised pension provision with the capital market. Only in this way can sustainable capital pools be built to finance innovation and secure prosperity in the long term,” says Boschan, adding: “The Listing Act reduces administrative hurdles, which is welcome. However, a genuine boost for the domestic capital market requires further structural reforms. The European Commission recommends the introduction of simple, standardised savings and investment accounts. While countries like Germany and Poland are already implementing such measures, and the Scandinavian countries have established models that have been functioning for years, there are no comparable plans in Austria.”

International issuer growth drives record quarter in debt listings

In terms of debt listings, the Vienna Stock Exchange remains one of the most active trading venues in Europe, with more than 1,400 active issuers from 52 countries and a total volume of over one trillion euros. Over 9,800 primary listings in the first quarter represent an increase of 64% compared with the same period last year and thus a record level. In the first quarter, global financial institutions such as BBVA, Santander, Goldman Sachs and BlackRock, as well as international companies such as Aedas Homes (Spain), Nurol Holding (Türkiye) and China Ruyi (China) chose Vienna as their listing venue. Furthermore, the first digital-native, blockchain-based bond was listed on the Vienna Stock Exchange, issued by Mirae Asset Securities from South Korea. The Austrian Treasury (OeBFA) sent a further signal of support for the domestic financial market with the announcement that Austrian government bonds will be listed exclusively on the Vienna Stock Exchange in the future.

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