Chemical stocks in Europe follow markets down Sept. 12 as concerns over eurozone debt, proposed U.K. banking reforms unsettle investors

Alison Gallant

LOS ANGELES , September 12, 2011 (Industry Intelligence) – European chemical stocks trailed the overall market down Sept. 12 on ongoing concerns over the eurozone’s debt issues and new concerns about U.K. banking reforms, ICIS news reported the same day.

Shortly after the market opened, the Dow Jones Euro Stoxx Chemical index was off 2.42%. Shares of two Germany-based companies, BASF SE and Bayer AG, were down 2.85% and 3.22%, respectively.

Amsterdam-based Akzo Nobel NV was off 2.44% while Belgium-based Solvay SA slipped 3.65%.

France-based companies Arkema SA and Air Liquide SA, were down 1.67% and 3.16%, respectively.

U.K.-based Johnson Matthey was off 1.46% while Switzerland-based specialty chemicals producer Clariant AG was down 2.49%

Petrochemical stocks in Asia were also down Sept. 12 on concern that the eurozone debt crisis would slow global demand, ICIS reported.

The primary source of this article is ICIS news, Surrey, England, Sept. 12, 2011.

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