Europe top stories: weekly summary

Source: ICIS News


LONDON (ICIS)--Here are some of the top stories from ICIS Europe for the week ended 3 November.

Europe benzene market still firm on US tightness as exports continue
The European benzene spot market remained firm this week with prices holding up as significant volumes are still being shipped to the US where supply continues to be tight, players said on Friday.

INTERACTIVE: Global refinery earnings could halve by 2035 on climate risk
An independent think-tank has prompted investors in the refining industry to reassess risks from clean technologies and climate regulations and to be wary of future investments as falling demand for oil could halve the industry's earnings by 2035.

Eurozone manufacturing grows in October at fastest rate since 2011
Manufacturing sector output growth reached its highest level since April 2011 in October, with economies in northwest Europe leading the productivity gains, analyst HIS Markit said on Thursday.

Germany's chem output up 1.3% in Q3, annual forecast upgraded - VCI
The German chemical trade group VCI upgraded on Thursday its outlook for the country’s industry in 2017 following a strong third quarter.

Europe PE buyers target spread erosion for November sellers
Polyethylene (PE) buyers in Europe are targeting some penetration into producers’ ethylene/PE spread in November following a fairly widespread follow-through of the monomer hike onto PE prices in October, sources said on Wednesday.

Clariant dodges breakup fees in scrapped Huntsman merger
The cancellation of merger plans between Clariant and Huntsman in the face of opposition from an activist investor means that the Switzerland-headquartered company is unlikely to be called on to pay millions in breakup fees, according to CFO Patrick Jany.

Swiss Clariant holds talks with White Tale after US Huntsman merger collapse
Clariant has confirmed that initial talks have taken place with activist shareholder White Tale Holdings, which last week increased its stake in the firm to 20%, scuppering the planned merger with US Huntsman, the Swiss firm said on Monday.