30 September 2008 17:00 [Source: ICIS news]
(Recasts lead, updates and adds detail throughout)
LONDON (ICIS news)--Chemicals stocks were mixed in ?xml:namespace>
Oil and chemicals firm Shell's shares rose 0.89% to 1,588 pence after falling 2.16% earlier in the day.
At the same time,
The FTSE 100 index of
The Dow Jones Eurostoxx 50 index also recovered as the market drew to a close. #
At 14:53 GMT it was 0.56% up on Monday’s close at 3,025.06, after falling 0.43% in early trading.
President George Bush on Tuesday renewed his appeal for congressional approval of a $700bn (€483bn) financial sector bailout bill, saying that “Congress must act” to deal with what he termed a critical moment in the
Citing Monday's 778-point decline in the Dow Jones Industrial Average index that followed the House bailout rejection, Bush said the losses are having a dire impact on the retirement savings of millions of Americans and the savings of family households.
The Dow Jones index rose 200 points as the
At 15:33 GMT, the index was up 2.43% on Monday’s close at 10,617.53.
The list of casualties from the global financial crisis continued to grow, with the government-orchestrated sale of Wachovia Group, the sixth largest bank in the
European financial institutions were also reeling from the
The US bailout plan had been hastily crafted over the weekend following the crisis, which led to the collapse of Lehman Brothers, the takeover of Merrill Lynch by Bank of America and the $85bn rescue of American International Group in just a week.
To discuss issues facing the chemical industry go to ICIS connect
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|