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North American chemical stocks surged on Thursday

August 12/2011

(ICIS) -- North American chemical stocks surged on Thursday, with several outperforming the overall market as the Dow Jones Industrial Average rose by 423. The index reached 11,143.31, up 3.95%.

The jump followed a report issued by the US Department of Labor, which showed that unemployment claims for the week ended 6 August fell 7,000 to reach 395,000. The figure is seasonally adjusted.

The four-week moving average was 405,000, down 3,250 from the previous week's revised average of 408,250, the department said.

The rise in the Dow Jones sent several chemical stocks soaring. In the past few days, chemical stocks have been outperforming the average during its wild swings up and down.

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