Syensqo dips to 3-month low on read-across from European peers

Imerys SA

28/06/2024 17:04

** Shares of Belgian chemicals company Syensqo  SYENS.BR 
fall to the lowest price since March 20 at 83.57 euros
($89.50)on read-across from peers in the Netherlands and France
    ** "People are making a read-across from Arkema  AKE.PA  and
Akzo Nobel  AKZO.AS  giving weaker messaging last week,"
Berenberg analyst Aron Ceccarelli tells Reuters
    ** Dutch coating company Akzo Nobel is down 1.7% this week,
while France's Arkema and Imerys  IMTP.PA  fell by 1.9% on
Friday
    ** Uncertainty at Boeing and Airbus cutting this year's
guidance are impacting the stocks as well, the broker says
    ** "You also have the electrical vehicles value chain that
is under pressure at the moment and Syensqo is a producer of
PVDF, a polymer used in EV batteries," it adds
    ** Syensqo's shares are down 3.4% on Friday at the bottom of
Belgium's BEL 20 index  BFX , 
 ($1 = 0.9338 euros)

 (Reporting by Gianluca Lo Nostro;
Editing by Alison Williams)
 ((gianluca.lonostro@thomsonreuters.com))