Here’s the sector most at risk from Russia permanently shutting off gas to Germany — and it’s taking a tumble
Posted: Fri Jul 15, 2022 11:54 pm
https://www.marketwatch.com/story/heres ... 1657875171
There are few companies with more at stake from Russian natural-gas flows into Germany than the chemicals sector.
Shares of chemicals companies including BASF BAS, +2.61%, Lanxess LXS, +3.77% and Covestro 1COV, +1.87% have each tumbled over the past month, in part on concern that Russia won’t resume gas flows via the Nord Stream 1 pipeline at the end of the scheduled maintenance period on July 21.
BASF shares have tumbled 34% this year, Lanxess has dropped 37% and Covestro has slumped 41%.
There are few companies with more at stake from Russian natural-gas flows into Germany than the chemicals sector.
Shares of chemicals companies including BASF BAS, +2.61%, Lanxess LXS, +3.77% and Covestro 1COV, +1.87% have each tumbled over the past month, in part on concern that Russia won’t resume gas flows via the Nord Stream 1 pipeline at the end of the scheduled maintenance period on July 21.
BASF shares have tumbled 34% this year, Lanxess has dropped 37% and Covestro has slumped 41%.