26 September 2011 21:31 [Source: ICIS news]
HOUSTON (ICIS)--North American chemical stocks rose on Monday as the Dow Jones Industrial average increased by 272 points.
The index closed at 11,043.86, up 2.53%.
The rise followed a 675-point drop that the average sustained during two consecutive days last week.
During those two days of declines, chemicals fell steeper than the Dow Jones Industrial Average.
During Monday's gains, chemical stocks rose slightly higher than the index.
The Dow Jones US Chemicals Index rose by 3%.
Nearly every stock followed by ICIS increased.
The biggest winner was catalyst producer WR Grace, which rose by 7%.
Stocks rising by more than 6% include specialty chemicals producer Cytec Industries, paints and coatings producer Sherwin-Williams, chlor-alkali producer Olin and Occidental Petroleum, an energy and chlor-alkali producer.
Butadiene producer TPC Group lost the most, falling by 6%.
Among the majors, DuPont rose by 3%, and Dow Chemical rose by 4%.
Fertilizer producer PotashCorp increased by 3% and industrial gasses producer Praxair gained 2%.Paul Hodges studies key influencers shaping the chemical industry in Chemicals and the Economy
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