Development of the voestalpine share
Changes compared to March 31, 2026, in %
Development of the voestalpine share
The period from April 1 to September 30, 2026, was characterized by overall subdued but regionally varied economic performance worldwide. While the U.S. economy remained relatively robust, economic activity in Europe continued to grow only moderately in the second and third calendar quarters, despite showing some resilience. The conflict in the Middle East and the resulting disruptions to the global energy supply led to a significant rise in oil and gas prices and increased inflationary pressure. In the eurozone in particular, higher energy and production costs weighed on growth prospects. Against this backdrop, both the U.S. Federal Reserve and the European Central Bank (ECB) tightened their monetary policies.
Despite the challenging macroeconomic environment, international stock markets reacted largely positively to companies’ generally solid earnings performance. The upward trend increasingly spread to broader market segments and was no longer driven primarily by the technology sector. Industrial, financial, and cyclical stocks benefited in particular.
Following a sharp rise at the start of the business year, the voestalpine stock initially continued its upward trend amid temporarily increased volatility. European steel stocks received a boost from stricter EU import restrictions on steel as well as the associated favorable trend in steel prices. Announcements of major orders in the aerospace industry and the Railway Systems business were also well received.
Despite solid financial results for the 2025/26 business year released in early June 2026, the voestalpine stock subsequently trended slightly downward. Following the strong price increase through the end of May 2026, positive expectations had already been largely priced in. The continued weakness in European industrial production, as well as growing inventories in the steel sector, weighed on the stock. Following a period of consolidation, steel prices rose gradually over the summer, providing support for the stock price. In addition, optimistic analyst estimates also contributed to the positive performance of the stock.
On September 22, 2026, a Capital Markets Day was held in Berlin during InnoTrans, the world’s largest trade fair for transportation technology. Starting from a closing price of EUR 37.82 on March 31, 2026, the price of the voestalpine stock rose to EUR 45.22 by September 30, 2026. This corresponds to a price increase of approximately 20% in the first half of the 2026/27 business year. As a result, the voestalpine stock outperformed the Dow Jones Industrial Average and the STOXX Europe 600, but lagged the exceptionally strong performance of the ATX. The Dow Jones Industrial Average and the STOXX Europe 600 each rose by about 10%, while the Austrian benchmark index, the ATX, posted a significantly stronger performance with an increase of around 28%.