European chemicals slide on renewed energy price gains

By Reuters News

** Shares of European chemical firms edge lower as oil and gas prices rise after Iran-aligned Houthis launched fresh attacks on Saudi Arabia, adding to concerns over strained global energy supplies

** France's Syensqo SYENS.BR and Arkema AKE.PA are down around 2%; Germany's BASF BASFn.DE, Evonik EVKn.DE and Wacker Chemie WCHG.DE fall more than 2%

** Lanxess LXSG.DE drops 6% after J.P. Morgan cut its PT by 17%, saying potential energy-cost headwinds drive estimate cuts

** "European 1-month forward natural gas prices are up ~150% YoY and ~125% versus the 2025 average," JPM writes, adding that it estimates a gross incremental energy-cost increase of around €250 million ($288 million) for Lanxess in 2027

** The STOXX 600 Chemicals .SX4P index is down 1.1% by 0844 GMT, underperforming the broader STOXX 600 .STOXX, which is down 0.9%

($1 = 0.8667 euros)

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