CW75 stock performance.(Chemical Week, chemical industry)(Illustration)

Chemical Week, May, 2004

The CW75 fell 3.7% for the week ending May 12, its biggest slide since the index was created in January 2003. The Standard and Poor's 500 index slipped 2.2%, and the Morgan Stanley global composite index dropped 3.9%. Basic chemical stocks took the hardest hit, falling 6.4%, while diversified chemical stocks fell 3.7%; and specialties, 3.2%.

"Despite positive economic data, chemical shares underperformed the market last week," says Don Carson, analyst at Merrill Lynch (New York). "Near-record high oil prices, the growing possibility of higher interest rates, and continuing concerns over a slowdown in the Chinese economy led to a sell off in chemical shares," Carson says.

Aceto topped the leaders list, with its stock rising 13.8% on news of strong...

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