Europe chem stocks fall on US, China economic data

)--European chemical stocks fell on Tuesday, in line with financial markets, after the US and China reported disappointing economic data for March.

The US Labor Department reported a worse-than-expected growth in employment in March, raising concerns over the US economic recovery.

Investor confidence was also hit on Tuesday when China’s economic figures for March showed higher inflation and lower-than-expected imports, signalling slower growth.

At 10:28 GMT, the UK’s FTSE 100 index was trading 0.86% down on its previous close. Germany’s DAX was down by 0.82% and the CAC 40 in France was down by 0.98%.

The Dow Jones Euro Stoxx Chemicals index was trading down by 0.28%, as shares in many of Europe’s major chemical companies fell.

Germany-based specialty chemicals firm LANXESS’s stocks were down by 1.79%, while shares in Swiss-based specialty chemicals company Clariant were trading down by 1.78%.

German chemical major Bayer was down by 0.12%, and France-based chemical firm Arkema had fallen by 1.16%.