US chem shares rise amid upbeat jobs report

Author: Juhi Varma

2020/06/05

HOUSTON (ICIS)--Most US-listed shares of chemical companies rose on Friday, buoyed by release of a better-than-expected May jobs report.

Nonfarm payrolls rose by 2.5m, and the overall unemployment rate fell to 13.3%. This prompted chemical stocks to surge in early trading, with the S&P 500 spiking near an all-time high.

The table below shows closing figures.

Name 5 June Change %
Dow Jones Industrial Average 27,110.98 829.16 3.15
S&P 500 3,193.93 81.58 2.62
Dow Jones US Chemicals Index 634.43 16.85 2.73
S&P 500 Chemicals Industry Index 634.64 17.42 2.82

The market continues to monitor ongoing civil unrest and an approaching tropical storm in the US Gulf.

Oil prices rose, with Brent crossing $40 bbl/day. US crude futures for July delivery finished up for the fourth consecutive session in response to a number of upbeat headlines. The table below shows oil prices in $/bbl.

Product 5 June 4 June Change
Brent August 42.30 39.99 2.31
WTI July 39.55 37.41 2.14

The following shows the US-listed shares followed by ICIS.

Name $ Current

Price

$ Change % Change
AdvanSix Inc 15.77 1.74 12.4
Axalta Coating Systems Ltd 24.7 0.2 0.82
Braskem SA ADR repr Class A 11.05 0.35 3.27
Celanese Corp Class A 97.72 1.33 1.38
Dow Inc 44.4 1.67 3.91
DuPont de Nemours Inc 56.16 1.18 2.15
Eastman Chemical Co 76.92 3.61 4.92
H.B. Fuller Co 42.99 0.47 1.11
Huntsman Corp 19.72 0.23 1.18
Ingevity Corp 57.89 1.72 3.06
Kraton Corp 18.24 0.67 3.81
Kronos Worldwide Inc 11.05 0.46 4.34
LyondellBasell Industries NV 74.87 1.97 2.7
Methanex Corp 24.26 3 14.11
NewMarket Corp 431 -7.01 -1.6
Olin Corp 14.53 0.43 3.01
PolyOne Corp 28.85 1.23 4.45
PPG Industries Inc 113.95 2.83 2.55
RPM International Inc 78.6 1.16 1.5
Sherwin-Williams Co 585.29 10.13 1.76
Stepan Co 101.53 2.07 2.08
The Chemours Co 16.53 0.77 4.89
Trinseo SA 25.02 0.85 3.52
Tronox Holdings PLC 8.69 0.82 10.42
Univar Solutions Inc 17.68 0.4 2.31
Venator Materials PLC 2.24 0.25 12.56
Westlake Chemical Corp 58.25 2.65 4.77

European chemicals stocks ended the week on a high after they had barely noticed the stimulus unleashed on Thursday in Germany and the eurozone by the European Central Bank (ECB).

Asian petrochemical shares were mostly higher on Friday after the European Central Bank (ECB) unexpectedly opted to increase its stimulus package, boosting hopes for a global economic recovery.

Click here to view the ICIS Coronavirus, oil price crash - impact on chemicals topic page.

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