Europe chem stocks fall further as markets react to debt worries

13 September 2011 14:24  [Source: ICIS news]

LONDON (ICIS)--European chemical stocks continued to fall on Tuesday as volatile markets reacted to eurozone debt-default concerns.

Share prices of top European producers continued Monday's downward direction, with petrochemical major BASF and fellow German company Bayer both dropping by 0.44% at 12:20 GMT.

At the same time, the UK’s FTSE 100 had fallen by 0.54%, Germany’s DAX was down 0.07% and France’s CAC 40 had slumped by 1.70%.

Markets did experience a rise earlier in the day but continued fear over the European economy saw many fall by the afternoon.

The decline continues from Monday when 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 UK banking reforms.

By: Leigh Stringer
+44 208 652 3214

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