03 March 2008 11:43 [Source: ICIS news]
LONDON (ICIS news)--European chemical stocks were hit in early Monday trading as markets in Europe and Asia tumbled over renewed fears of a US recession.
Europe’s Dow Jones Stoxx chemical index was down 1.82% while the overall Dow Jones Index fell 2.51%. The FTSE index was down 1.12%.
Dutch chemical company Akzo Nobel's shares were down 0.55% at €48.15 on the Euronext.
European chemical companies stocks dit not match the falls of up to 6% of many of their Asian counterparts.
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The rise of Asia and an improving picture elsewhere, including regions such as Latin America, have reduced overall dependence on the US as the leader for global growth, said S&P.
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