Europe chemical stocks rise on US Federal Reserve stimulus hopes

23 August 2011 13:51  [Source: ICIS news]

LONDON (ICIS)--Stocks in the European chemical sector rose after global markets rallied on Tuesday as traders anticipated possible further stimulus measures by the US Federal Reserve.

At 11:55 GMT, the Dow Jones Euro Stoxx Chemicals index was trading up by 1.74% as shares in top European producers improved. Germany-based chemicals major BASF’s shares were up by 1.25%, Dutch coatings firm AkzoNobel had risen by 0.68%, and France-based industrial gases company Air Liquide was up by 3.11% from the previous close.

Swiss-based Clariant was trading up by 1.12%, Germany-based chemicals producer Bayer was up by 2.58%, and Belgium’s Solvay was 1.24% higher than the previous close.

At 12:00 GMT, the UK's FTSE 100 had risen by 1.18% from the previous close, while the CAC 40 in France was up by 1.21%. Germany’s DAX was up by 1.49%.

Global equity markets also rose on Tuesday, with the Nikkei 225 equity index in Japan closing up by 1.22%, while Hong Kong’s Hang Seng exchange grew by 1.99%.

By: Franco Capaldo
+44 (0)20 8652 3214

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