Chems rise as US stock market gains over 2% on eurozone agreement

29 June 2012 21:32  [Source: ICIS news]

HOUSTON (ICIS)--The US Dow Jones Industrial Average gained 2.2% on Friday after eurozone leaders reached an agreement on a plan to stabilise the region’s banks.

The US stock market ended the day at 12,880.09, up 277.83 points.

European leaders decided at a summit on Friday that countries could inject money into failing banks without increasing the country’s deficit.

Chemical stocks also posted positive numbers on the US market, outpacing the overall market.

The Dow Jones US Chemicals Index gained 2.63% to 358.72.

The rally was led by butadiene (BD) producer TPC Group, which gained over 10%, settling at $36.95/share.

US stock of Brazil-based chemicals producer Braskem rose 9%.

Among the majors, DuPont rose by 1.77%, and Dow Chemical gained 2.74%.

Fertilizer producer PotashCorp made a slight gain at 0.11%, and industrial gases major Praxair rose by 3.22%.

By: Bobbie Clark
+1 713 525 2653

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