Europe chemical stocks rise on hopes for eurozone debt solution
26 September 2011 17:51 [Source: ICIS news]
LONDON (ICIS)--European chemical stocks rose on Monday and bank shares in ?xml:namespace>Germany and France rallied as investors reacted positively to the latest attempts by international leaders to deal with the eurozone debt crisis.
French bank BNP Paribas ended the day 3.99% up, while Societe Generale and Credit Agricole closed 5.44% and 3.66% higher, respectively. Germany's banks also closed higher than the previous close, with Deutsche Bank up by 8.65% and Commerzbank rising by 7.76%.
The Dow Jones Euro Stoxx Chemicals index was up by 2.03% at the close, as shares in many of Europe’s major chemical companies rose.
Many top European producers saw gains – petrochemical major BASF’s shares had risen by 2.55%, while Germany-based Bayer rose by 4.26% and Dutch coatings firm AkzoNobel was up by 3.64%.
Belgium’s Solvay had risen by 2.82% and France-based industrial gases company Air Liquide was up by 1.08%, while Germany’s Linde was up by 1.18% and Swiss specialties maker Clariant was trading up by 2.73%.
Europe's markets ended the day in positive territory, with the UK's FTSE 100 rising slightly by 0.45% at closing. Germany’s DAX was up by 2.87% and the CAC 40 in France had increased by 1.71%.By: Franco Capaldo+44 (0)20 8652 3214
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