BASF drops after profit warning over trade war

Tuesday, 09. July 2019 09:46

BASF SE NA shares slipped more than 6% on Tuesday after the chemicals company announced that it expects its profits to fall by 30% for the whole 2019 and as much as 50% in the last six months of the year due to the "uncertainty" caused by the trade war between the United States and China.

BASF stock dropped 5.43% at 9:43 am CET. The prognosis also led other companies in the German chemical sector to decline as Covestro fell 5.62% at 9:43 am CET.

The DAX plunged 1.09% at 9:44 am CET.

Related Links: Covestro AGBASF SE
Author:
Breaking the News / VP