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 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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