29 March 2012 18:08 [Source: ICIS news]
LONDON (ICIS)--Shares in European chemical companies fell on Thursday in line with financial markets, as concerns over economic growth in the eurozone continued to affect investor confidence.
According to media reports, investors have been waiting for European finance ministers to agree on the total bailout figure for indebted eurozone countries at a meeting scheduled in Copenhagen, Denmark, on Friday.
At 15:12 London time, the UK’s FTSE 100 index was trading 1.28% down on its previous close. Germany’s DAX was down by 1.96% and the CAC 40 in France was down by 1.06%.
The Dow Jones Euro Stoxx Chemicals index was trading down 1.23%, as shares in many of Europe’s major chemical companies dropped.
Investor confidence was also hit by protests in Spain this week over the government’s austerity measures.
OECD secretary-general Angel Gurria said on Tuesday that the current level of commitment to the rescue fund is not enough to restore market confidence.
($1 = €0.75)
Read Paul Hodges’ Chemicals and the Economy blog
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections