29 June 2012 07:15 [Source: ICIS news]
SINGAPORE (ICIS)--Shares of petrochemical companies in ?xml:namespace>
The plan calls for a creation of a single supervisory body for eurozone banks by the end of the year.
European leaders who met in
In a statement issued following the summit, the EU said: “We affirm that it is imperative to break the vicious circle between banks and sovereigns.”
Demand for Asian exports has significantly weakened since the eurozone, which is a major market for the region, got caught up in a sovereign debt crisis.
At 06:41 GMT, shares of Japanese petrochemical firms were up, with Mitsui Chemicals rising 1.54%, Mitsubishi Chemical up 2.04% and Asahi Kasei rising 2.13%. The benchmark Nikkei 225 index was up 132.12 points or 1.49% at 9,006.23 points.
Crude futures gained more than $1/bbl on Friday, welcoming the news of the eurozone plan.
Earlier doubts about the eurozone leaders‘ ability to tackle the debt problems had weighed down on the equities and commodities markets prior to the
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