FRANKFURT (dpa-AFX Broker) – An overall more optimistic assessment of the European chemical industry by Goldman Sachs moved the prices of Evonik and Symrise in particular on Tuesday morning. The expert Georgina Fraser comes from the defensive and takes a pro-cyclical stance. The mood is still bad, but there are initial signs of economic recovery and improvement in the industry environment, said Fraser.
In a total of seven cases, Fraser changed her assessment, in most of them upwards. At Evonik, she completely revised her opinion and turned a sell recommendation into a buy recommendation. The shares then climbed to 15.69 euros on the Tradegate trading platform premarket. This would allow them to make it back above their exponential 200-day line in regular Xetra trading. In January, the shares were at a record low of 12.49 euros.
Meanwhile, Symrise also rose noticeably to 74 euros following a buy recommendation. This means that their bottoming out continues to take shape after around 65 euros in December. Meanwhile, a sell recommendation from Fraser caused the papers of the Swiss competitor in the flavors and fragrances sector, Givaudan, to wobble./ag/stk
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