US-listed chem stocks decline as Dow Jones falls 2.29%

Author: Al Greenwood

2020/10/26

HOUSTON (ICIS)--US-listed shares of chemical companies fell on Monday as the Dow Jones Industrial Average fell sharply amid worries about a surge in coronavirus cases.

The table below shows the major indices followed by ICIS.

26-Oct Change %
Dow Jones Industrial Average 27,685.38 -650.19 -2.29
S&P 500 3,400.97 -64.42 -1.86
Dow Jones US Chemicals Index 658.33 -17.36 -2.57
S&P 500 Chemicals Industry Index 663.89 -16.91 -2.48

The declines in the stock market followed reports that new cases of the coronavirus are reaching a record in the US.

These followed worries about the disease in Europe, which have led to restrictions.

Ireland, Italy, Spain, France, Germany and Slovenia are some countries in the region that have imposed short-term lockdowns or movement restrictions. Cases also increased in Greece, Poland, Hungary and Belgium in the week.

Restrictions could slow down the economic recovery and reduce demand for plastics, chemicals and fuel.

OPEC raised the possibility it might extend its cuts in oil production to compensate for lower demand caused by a second wave of lockdowns across the world.

Crude prices fell as shown in the following table.

26-Oct 23-Oct Change %
Brent 40.46 41.77 -1.31 -3.14%
WTI 38.56 39.85 -1.29 -3.24%

Below shows the US-listed shares followed by ICIS.

$ Current

Price

$ Change % Change
AdvanSix 15.43 -0.27 -1.72
Avient 31.75 -0.89 -2.73
Axalta Coating Systems 26.19 -0.58 -2.17
Braskem 8.68 -0.34 -3.77
Celanese 115.57 -3.99 -3.34
Dow 47.15 -1.38 -2.84
DuPont 58.52 -1.3 -2.17
Eastman 84.86 -2.46 -2.82
HB Fuller 48.23 -1.34 -2.7
Huntsman 24.85 -0.55 -2.17
Ingevity 58.53 -1.58 -2.63
Kraton 27.53 -3.04 -9.94
Kronos Worldwide 13.58 -0.36 -2.58
LyondellBasell 75.41 -1.49 -1.94
Methanex 30.55 -0.33 -1.07
NewMarket 352.1 -8.39 -2.33
Olin 16.91 -0.3 -1.74
PPG 131.37 -2.9 -2.16
RPM International 87.79 -1.91 -2.13
Sherwin-Williams 670.38 -12.93 -1.89
Stepan 117.96 -0.31 -0.26
Chemours 20.74 -1.14 -5.21
Trinseo 33.12 -1.32 -3.83
Tronox 9.15 -0.56 -5.77
Univar 17.83 -1.17 -6.16
Venator 1.98 -0.07 -3.41
Westlake 70.04 -1.62 -2.26

Additional reporting by Nazif Nazmul and Andrew Putwain

Thumbnail image by Shutterstock

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