HOUSTON (ICIS)--Most US-listed shares of chemical companies followed by ICIS fell, as the general market declined and the Federal Reserve voted to keep interest rates near 0%.
The following shows the performance of the US-listed shares followed by ICIS.
|$ Change||% Change|
|Axalta Coating Systems||23.50||-0.76||-3.11|
The declines in chemical shares came as some US states are reporting rising numbers of people going to the hospital because of the coronavirus.
The major indices followed by ICIS also fell, although not to the same magnitude as many chemical stocks.
|Dow Jones Industrial Average||26,989.99||-282.31||-1.04|
|Dow Jones US Chemicals Index||618.39||-9.91||-1.58|
|S&P 500 Chemicals Industry Index||619.29||-8.44||-1.34|
Markets fell after the Federal Reserve voted to keep benchmark interest rates at 0-0.25%.
Members of the central bank expect rates will remain near 0% until at least 2022. The economy should contract by 6.5% this year, before expanding by 5.0% in 2021 and 3.5% in 2022.
Oil prices rose, as shown in the following table.
In the US, refinery rates increased by 1.3 percentage points in the week ended 5 June.
North American chemical railcar loadings fell year on year for the week ended 6 June
In Europe, chemical stocks fell.
A report from the OECD outlined concerns that a second outbreak of the coronavirus would drag down global GDP. Europe would be particularly at risk.
In Asia, chemical shares were mixed.
Additional reporting by Michael Sims, Juhi Varma, Morgan Condon and Nurluqman Suratman
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