Europe chem stocks up on G8 call for Greece to stay in eurozone
21 May 2012 17:12 [Source: ICIS news]
LONDON (ICIS)--European chemical stocks were up on Monday, in line with financial markets, after world leaders said they want ?xml:namespace>Greece to remain in the eurozone.
However, investor confidence only slightly improved as the G8 summit, held at the weekend, saw world leaders fail to agree on a resolution for the continued economic crisis in Europe.
At 15:10 GMT, the UK’s FTSE 100 was up by 1.05%, Germany’s DAX had risen by 1.37%, and the CAC 40 in France was up by 0.83%.
With European indices trading higher, the Dow Jones Euro Stoxx Chemicals index was up by 1.39%, as shares in many of Europe’s major chemical companies rose from the previous close.
Petrochemical major BASF’s shares had risen by 1.33%, while fellow Germany-based chemical company Bayer’s shares were trading up by 2.72%.
Shares in Switzerland’s Syngenta were up by 1.06%, while fellow Switzerland-based company Clariant’s shares were trading up by 1.97% from the previous close.
Norway-based fertilizer producer Yara International's shares were trading up by 4.28% on the previous close.By: Leigh Stringer+44 208 652 3214
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