04 November 2011 17:56 [Source: ICIS news]
LONDON (ICIS)--European chemical stocks ended in negative territory on Friday, in line with regional markets, as concerns resurfaced over the eurozone debt crisis and nervous traders awaited the outcome of a confidence vote for Greek Prime Minister George Papandreou.
European chemical stocks tumbled on 1 November following a sharp fall in the global markets after Papandreou announced that Greece would hold a referendum on the latest bail-out package to solve its debt crisis.
However, on Thursday, Papandreou appeared to have dropped his plans for a referendum after coming under pressure at the G20 summit in ?xml:namespace>
But investors remain worried that
At the same time, many other European indices were trading lower with the Dow Jones Euro Stoxx Chemicals index down by 2.19%.
Germany-based chemicals major BASF’s shares had fallen 3.77%, while Dutch coatings firm AkzoNobel was down 1.35%. LANXESS was down by 1.02%, while fellow Germany-based chemical company Bayer’s shares were down 3.72%.
France-based companies Arkema and Air Liquide were down 1.44% and 1.67% respectively.
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