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(ICIS) -- Stocks in the European chemicals
sector were lifted by a rally in global markets on Monday after US leaders
reached an agreement to avoid the country defaulting on its debt
obligations.
President Barack Obama said that under a proposed deal, which
will be put to a vote in the US Senate and the House of Representatives later on
Monday, the US debt ceiling would rise by up to USD 2.4 trillion (EUR 1.7
trillion).
In early afternoon trading, the Dow Jones Euro Stoxx Chemicals index was
trading up 0.75%, indicating that many of Europe’s major chemical companies had
experienced some gains. Among Europe’s top producers, Germany-based major BASF’s
shares had risen 1.34%, France-based Arkema was up 1.03%, while shares of
Norway-based fertilizer producer Yara grew 1.15%
European stock markets
reacted positively to US Congressional leaders agreeing on raising its borrowing
cap.
mrcplast.com
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