US chem shares rise amid upbeat aerospace, housing news

Juhi Varma

29-Jun-2020

HOUSTON (ICIS)–US-listed shares of chemical companies rose with the general stock market on Monday, with positive news in aerospace and signs of a potential rebound in the housing market.

Stocks rallied despite a rise in coroanvirus cases prompting states to pause reopenings or reimpose restrictions, slowing the economy and curbing demand.

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

Name $ Current

Price

$ Change % Change
AdvanSix Inc 11.7 0.69 6.27
Axalta Coating Systems Ltd 22.18 0.75 3.5
Braskem SA ADR repr Class A 8.59 0.24 2.87
Celanese Corp Class A 85.39 2.61 3.15
Dow Inc 41 1.22 3.07
DuPont de Nemours Inc 52.47 1.05 2.04
Eastman Chemical Co 69.32 2.04 3.03
H.B. Fuller Co 44.43 1.93 4.54
Huntsman Corp 17.8 0.15 0.85
Ingevity Corp 51.67 4.36 9.22
Kraton Corp 17.15 1.04 6.46
Kronos Worldwide Inc 10.19 0.59 6.15
LyondellBasell Industries NV 64.95 1.58 2.49
Methanex Corp 18.13 0.08 0.44
NewMarket Corp 396.95 10.31 2.67
Olin Corp 11.28 0.44 4.06
PolyOne Corp 26.01 0.82 3.26
PPG Industries Inc 103.94 1.8 1.76
RPM International Inc 73.87 2.37 3.31
Sherwin-Williams Co 566 8.47 1.52
Stepan Co 95.4 7.44 8.46
The Chemours Co 15.31 0.48 3.24
Trinseo SA 21.85 0.46 2.15
Tronox Holdings PLC 7.03 0.47 7.16
Univar Solutions Inc 16.57 0.57 3.56
Venator Materials PLC 1.82 0.22 13.75
Westlake Chemical Corp 54.07 1.39 2.64

The general stock market rose,  as shown by the closing figures in the table below.

Name 29 June Change %
Dow Jones Industrial Average 25,595.80 580.25 2.32
S&P 500 3,053.24 44.19 1.47
Dow Jones US Chemicals Index  582.64 12.21 2.14
S&P 500 Chemicals Industry Index 585.38 11.14 1.94

It was the Dow Jones Industrial Average’s largest jump since 5 June, when the index rose more than 3%.

CNBC said the jump was led by aerospace manufacturing company Boeing, whose shares rose as flight tests received government clearance.

Also, the National Association of Realtors (NAR) reported soaring pending home sales in May, signalling a potential rebound in the housing market.

In oil markets, crude futures rose amid positive economic data from Europe and Asia, as shown in the following table.

The table below shows oil prices in $/bbl.

Product 29 June 28 June Change
Brent August 41.71 41.02 0.69
WTI August 39.70 38.49 1.21

Traders remained unaffected by the rise in US coronavirus cases, which reached an all-time high on Monday.

The Centers for Disease Control and Prevention (CDC) reported an increase of 41,075 from Friday, totalling nearly 2.5m.

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

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