30 September 2008 23:15 [Source: ICIS news]
HOUSTON (ICIS news)--The Dow Jones Industrial Average gained nearly 500 points on Tuesday, as buyers attempted to take advantage of bargains created by Monday’s record loss.
The Dow gained 485 points, or nearly 5%, as investor concern over the future of the US economy eased, and US lawmakers prepared to draft another version of the $700bn (€483bn) bailout bill that failed in the lower chamber of Congress on Monday.
All but one of the 30 companies that make up the elite Dow Jones Industrial Average were in positive territory on Tuesday, along with a wide swath of the chemicals industry.
Alcoa gained $1.20/share, or nearly 6%, to close at $22.58/share.
Dow Chemical, meanwhile, gained 82 cents/share, or nearly 3%, to close at $31.78/share.
Shares of Johnson & Johnson gained $2.38/share, or nearly 4%, to close at $69.28/share.
Pfizer gained 79 cents/share, or more than 4%, to close at $18.44/share.
Shares of Potash Corporation of Saskatchewan gained 30 cents/share, or less than 1%, to close at $132.01/share despite downward pressure from corn prices falling on the Chicago Board of Trade.
($1 = €0.69)
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|
Asian Chemical Connections