Prices on the Vienna Stock Exchange showed relatively large fluctuations. The ATX leading index quickly climbed over the 2,000 mark at the beginning of the year, but renewed nervousness in the markets then led to a significant price setback. This was followed by upward movements beginning in June that initially showed high volatility but continued to the end of the year, resulting in an index value of 2,401.2 points. Rising optimism among market participants that the peak of the European debt crisis had been overcome was the main reason for the significant 4th quarter improvement in the ATX. The Vienna Stock Exchange showed above-average gains from the increasing return of confidence, similar to the past when investor pessimism hit the Vienna Stock Exchange particularly hard. The result at the end of the year was a 26.9% increase in the ATX index for 2012.