US chems fall as Dow drops by over 2% for the second time

Source: ICIS News

2018/10/11

HOUSTON (ICIS)--US-listed chemical stocks fell again as the Dow Jones Industrial Average fell by more than 2% on Thursday for the second day in a row.

The Dow closed at 25,052.83, down 545.91 points or 2.13%. The S&P 500 closed at 2728.37, down 57.31 points or 2.06%.

On Wednesday, the Dow Jones closed at 25,598.74, down 831.83 points or 3.15%. The S&P 500 fell by nearly 95 points. The NASDAQ Composite fell by 4.08%.

The declines come amid concerns about rising interest rates, a strengthening dollar, trade disputes, raw-material costs and a slowing automobile market.

Many of these worries were cited by PPG and Trinseo earlier this week in announcements that preceded their upcoming Q3 earnings releases.

PPG expects third-quarter adjusted earnings/share to fall year on year.

Trinseo expects its third-quarter income to fall below the guidance that it issued earlier in the year.

Most US-listed chemical stocks followed by ICIS fell for the second day.

The Dow Jones US Chemicals Index closed at 606.37, down 9.15 points or 1.49%.

US-based pine-chemicals producer Ingevity fell by the largest amount, declining by 4.04%. Carbon-black producer Cabot fell by 4.02%.

Like Wednesday, some stocks did increase. US-based fertilizer producer CF Industries was the biggest winner, rising by 1.93%. Mosaic, another fertilizer producer, rose by 1.76%.

The table below shows the performance of the US-listed stock followed by ICIS.

Name $ Current

Price

$ Change % Change
CF Industries Holdings Inc 51.31 0.97 1.93
The Mosaic Co 32.88 0.57 1.76
Valvoline Inc 19.73 0.15 0.77
Olin Corp 23.56 0.15 0.64
NewMarket Corp 377.5 2.22 0.59
PQ Group Holdings Inc 15.63 0.07 0.45
Sociedad Quimica Y Minera De Chile SA ADR 42.84 0.01 0.02
LyondellBasell Industries NV 97.58 -0.04 -0.04
Stepan Co 84.5 -0.03 -0.04
Tronox Ltd 11.69 -0.01 -0.09
Enterprise Products Partners LP 28.53 -0.06 -0.19
Huntsman Corp 23.7 -0.05 -0.21
The Chemours Co 35.59 -0.09 -0.25
Platform Specialty Products Corp 11 -0.04 -0.36
Westlake Chemical Corp 79.96 -0.31 -0.39
DowDuPont Inc 58.98 -0.34 -0.57
Methanex Corp 74.16 -0.53 -0.71
Westlake Chemical Partners LP 23.31 -0.22 -0.94
Albemarle Corp 94.76 -0.91 -0.95
Bunge Ltd 66.78 -0.67 -0.99
RPM International Inc 59.17 -0.67 -1.12
Nutrien Ltd 54.31 -0.62 -1.13
Calumet Specialty Products Partners LP 5.92 -0.07 -1.17
Venator Materials PLC 8.89 -0.11 -1.17
PBF Energy Inc Class A 50.23 -0.6 -1.18
Alerian MLP ETF 10.59 -0.13 -1.21
Trinseo SA 59.62 -0.73 -1.21
FMC Corp 83.19 -1.13 -1.34
H.B. Fuller Co 46.5 -0.74 -1.57
Petroleo Brasileiro SA Petrobras ADR 14.86 -0.24 -1.59
DCP Midstream LP 41.83 -0.69 -1.62
Occidental Petroleum Corp 76.66 -1.26 -1.62
Ecopetrol SA ADR 25.27 -0.42 -1.63
Sherwin-Williams Co 407.93 -6.86 -1.65
Marathon Petroleum Corp 79.19 -1.46 -1.81
Celanese Corp 98.65 -1.84 -1.83
Praxair Inc 154.89 -3.12 -1.97
Braskem SA ADR repr Class A 27.73 -0.61 -2.15
Ashland Global Holdings Inc 75.38 -1.67 -2.17
Eastman Chemical Co 82.41 -1.83 -2.17
Kraton Corp 37.22 -0.87 -2.28
Cosan Ltd 7.36 -0.21 -2.71
PPG Industries Inc 96.86 -2.74 -2.75
Ecolab Inc 146.65 -4.16 -2.76
Kronos Worldwide Inc 15.41 -0.45 -2.84
Axalta Coating Systems Ltd 25.94 -0.82 -3.06
Valero Energy Corp 107.4 -3.44 -3.1
AdvanSix Inc 30.87 -0.99 -3.11
W R Grace & Co 66.1 -2.15 -3.14
Phillips 66 109.46 -3.59 -3.18
Exxon Mobil Corp 81.6 -2.92 -3.45
Ultrapar Participacoes SA ADR 10.63 -0.38 -3.45
PolyOne Corp 36.53 -1.44 -3.78
Cabot Corp 54.69 -2.29 -4.02
Ingevity Corp 83.06 -3.5 -4.04