10 May 2010 17:27 [Source: ICIS news]
LONDON (ICIS news)--European chemical companies made significant gains on Monday but failed to match a sharp rebound in European blue-chip stocks after the EU approved a close to €750bn ($960bn) fund to support heavily indebted eurozone countries.
The bailout package was aimed at addressing the EU financial crisis triggered by ?xml:namespace>
On Monday at around 15.00 GMT Europe’s blue-chip index Eurostox had risen 9% from Friday’s close.
At the same time, the share price of German pharmaceticals and chemicals maker Bayer was up 3.1% at €46.65, while Dutch coatings, paints and specialty chemical company AkzoNobel ticked 3.94% higher to €42.6. German chemicals major BASF performed notably better and climbed 6% to €43.5.
Rhodia soared 13.4% to €16 after it successfully refinanced $500m worth of debt through a bond issue.
($1 = €0.78)
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