US chem shares rise as stock market stages large swing

Author: Al Greenwood

2020/06/15

HOUSTON (ICIS)--US-listed shares of chemical companies rose on Monday after the stock markets swung from sharp losses earlier in the day.

Stock markets opened lower amid fears of a resurgence of the coronavirus.

China on 13 June imposed lockdowns in parts of Beijing following evidence of a new virus cluster at one of its districts.

In the US, individual states are reporting rising numbers of infections and hospital visits.

The Dow Jones Industrial Average was down by more than 2% in early trading. The declines started eroding as the morning progressed.

The average turned positive after the Federal Reserve said it would buy corporate bonds.

The following shows the performance of the major indices.

15-Jun Change %
Dow Jones Industrial Average 25,763.16 157.62 0.62
S&P 500 3,066.59 25.28 0.83
Dow Jones US Chemicals Index 582.62 2.91 0.50
S&P 500 Chemicals Industry Index 585.23 4.33 0.75

The following shows the performance of the companies followed by ICIS.

$ Current

Price

$ Change % Change
AdvanSix 12.71 -0.18 -1.40
Axalta Coating Systems 22.81 0.62 2.77
Braskem 9.60 -0.25 -2.54
Celanese 88.67 0.15 0.17
Dow 42.00 0.77 1.86
DuPont 51.69 0.68 1.33
Eastman 69.42 -0.21 -0.30
HB Fuller 40.42 0.41 1.02
Huntsman 18.56 0.54 3.00
Ingevity 51.74 1.49 2.97
Kraton 16.26 0.27 1.69
Kronos Worldwide 10.11 0.45 4.66
LyondellBasell 67.23 0.62 0.92
Methanex 20.43 -0.06 -0.29
NewMarket 402.25 7.57 1.92
Olin 12.90 -0.25 -1.90
PolyOne 25.88 -0.02 -0.08
PPG 102.76 1.13 1.11
RPM International 74.39 1.00 1.36
Sherwin-Williams 569.39 21.77 3.98
Stepan 95.98 1.26 1.33
Chemours 15.34 0.34 2.27
Trinseo 22.44 0.78 3.58
Tronox 7.43 0.29 4.06
Univar 18.03 1.67 10.21
Venator Materials 2.19 0.03 1.39
Westlake Chemical 54.17 1.15 2.17

Oil prices also rose, as shown in the following table.

15-Jun 12-Jun %
Brent 39.72 38.73 2.56%
WTI 37.12 36.26 2.37%

In Europe, petrochemical shares changed little.

In Asia, petrochemical shares were mostly lower.

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

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