Europe top stories: weekly summary

LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 18 September.

Europe chems growth hit by weaker emerging market demand – HSBC
Market growth expectations for European chemical stocks are underpinned by unrealistic ideas of emerging market demand, according to the research unit of UK-headquartered banking group HSBC on Friday.

Global car sales rise in July and Aug, but fall excluding China
New passenger car sales across the key global automotive producing regions of China, the US, EU and EFTA, Japan and Brazil rose in both July and August, ICIS analysis showed on Thursday.

EU new passenger car sales rebound strongly in August
EU passenger car sales saw strong year-on-year growth in August, following a contraction in July in the immediate aftermath of the UK’s vote to leave the EU, data from the European Automobile Manufacturers’ Association (ACEA) showed on Thursday.

Germany’s Bayer to acquire US Monsanto for $66bn
Germany’s chemical major Bayer said on Wednesday US agrochemicals major Monsanto has agreed to be acquired for $66bn.

Crude overhang to stay as rising output meets slowing demand – IEA
With developed nations holding 3,111m bbl of crude oil inventories, producers continuing to pump product into the market and demand growth slowing as China and India reduce their consumption, the global overhang has no end on sight, the International Energy Agency (IEA) said on Tuesday.

Crude oversupply to soften despite weak global growth – OPEC
Crude oil markets might reduce supply-demand imbalances in coming months, as some major economies have posted better-than-expected demand despite moderate global economic growth, the Organization of Petroleum Exporting Countries (OPEC) said on Monday.

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