19 August 2011 12:50 [Source: ICIS news]
LONDON (ICIS)--European chemical company share prices approached their lowest point in 12 months on Friday as fears over the potential for a double-dip recession continued to weigh on stocks across the region.
The Dow Jones Eurostoxx Chemicals index, which tracks the market valuation of ?xml:namespace>
Shares in German specialty chemical and rubber maker LANXESS were hardest hit among the region’s biggest chemical companies, falling by 5.62% to €39.72 ($56.74) per share on the German bourse, the DAX. LANXESS shares last traded at under €40 on 14 September 2010.
Another German company, chemical giant BASF, also sustained losses on the DAX, with its shares selling for €48.47, the first time they had traded under €50 since 13 September 2010.
The fall in chemical company share prices came as stock markets tumbled the world over, after concerns that the
Chemical industry analysts warned on Thursday that the
Meanwhile, the Dow Jones Euro Stoxx 50 index, which follows the 50 biggest blue-chip companies in
Shares in Asia slumped in early trading on Friday, weighed down by fears over the
($1 = €0.70)
For more on on LANXESS visit ICIS company intelligence
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|