24 October 2012 22:30 [Source: ICIS news]
HOUSTON (ICIS)--The US construction industry is recovering, though not enough to offset weakness in Europe and Asia, an analyst said on Wednesday following Dow Chemical’s release of third-quarter earnings.
Dow Chemical’s third-quarter net income fell 35% to $582m (€448m) on weaker sales, particularly in ?xml:namespace>
Morgan Stanley said it expects Dow’s stocks to rise as the market realises the company is performing better than expected. However, that increase will be slight, because of limited visibility in Dow’s two restructuring programmes.
In addition, Dow’s performance plastics sector was down but only modestly.
Financial analyst Wells Fargo said the segment benefitted from low feedstock costs in North America and Latin America, which offset the high cost of naphtha in Europe and Asia.
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