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Europe chems stocks down as markets fall on eurozone debt worries

July 14/2011

(ICIS) -- Stocks in the European chemical sector were being dragged down by a sharp fall in the global markets on Tuesday, as fears over the eurozone’s debt problems continued. In early afternoon trading, the Dow Jones Euro Stoxx Chemicals index was trading down by 1.72%, indicating that many of Europe’s major chemical companies had suffered some losses.

Among Europe’s top producers, German major BASF’s shares dropped by 1.60%, while Bayer’s fell by 1.62%. Dutch coatings firm AkzoNobel’s shares were down by 1.90%, France’s Arkema’s shares fell by 1.59%, Belgian producer Solvay’s plummeted 2.93% and Germany’s Kali and Salz (K+S) were down by 2.78%.

European stock markets were reacting to concerns that Italy and Spain – like Greece, Ireland and Portugal before them – will require a bail out from the European Union and the International Monetary Fund.

Tags:Akzo Nobel, Arkema, BASF.
Category:General News
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