Today is the last Friday of May, and the entrance to the Vienna Stock Exchange is now swarming with people.
The "Austrian Securities Management Act" clearly stipulates that listed companies must publish financial statements once every three months, and the time is next month.
Since companies are listed at different times, the cycles for publishing financial statements also vary, and many companies release their financial reports at the end of each month.
Choosing Friday gives the market time to react over the weekend when the stock market is closed, preventing investors from impulsively selling off their shares all at once.
If it's good news, naturally, there's no need to wait until the end of the month, it can be announced at any time.
The financial statements of companies are also published in financial newspapers, just a few hours later than the announcements made by the exchanges, and there usually aren't so many people around.
