North Am chem stocks finish ’06 strong - BoA

02 January 2007 18:43  [Source: ICIS news]

TORONTO (ICIS news)--Shares of North American chemicals firms had a strong finish in 2006 with agricultural stocks continuing to do well, Banc of America said on Tuesday.

 

Canada’s Potash Corporation of Saskatchewan (PCS), Mosaic and Syngenta were among the top performers in the fourth quarter, BoA said in a research note to clients.

 

However, commodity petrochemical producers lagged in the fourth quarter with Georgia Gulf and NOVA Chemicals suffering large declines.

 

Georgia’s shares were affected in the fourth quarter by weaker polyvinyl chloride (PVC) volumes on the back the slowing US housing and construction market while NOVA saw its margins erode in the ethylene/polyethylene chain.

 

Looking at the full 12 months of 2006 specialty chemical firms such as Albemarle and agricultural names, especially PCS, fared best, BoA said.

 

Going into 2007, BoA said it favoured Celanese, Rohm and Haas, CF Industries and Mosaic. 

By: Stefan Baumgarten
+1 713 525 2653

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