12 September 2011 11:27 [Source: ICIS news]
LONDON (ICIS)--European chemical stocks fell on Monday as global markets made further losses from Friday due to continuing fears over the eurozone’s debt problems and a sharp drop in bank shares following the recommendation of ?xml:namespace>
At 09:43 GMT Barclays was trading down 1.15%, HSBC Holdings was down 1.50%, while shares in Royal Bank of Scotland Group had fallen 0.42%.
The Dow Jones Euro Stoxx Chemicals index at 09:46 GMT was trading down 2.42%, as shares in many of
Top European producers were hit hard – petrochemical major BASF’s shares had dropped 2.85%, while fellow Germany-based Bayer had fallen 3.22%. Dutch coatings firm AkzoNobel was down 2.44%, and France’s Arkema had fallen by 1.67%.
At 09:53 GMT, the
Asian petrochemical shares also dropped on Monday on renewed concerns on the sovereign debt crisis in the eurozone and its dampening impact on global demand.
Japan's benchmark Nikkei 225 index was down by 2.31% at closing. Financial markets in
Includes additional reporting by Nurluqman Suratman
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