BUZZ-Exane sees slow recovery for chemicals

Reuters01-21

BUZZ-Exane sees slow recovery for chemicals

** Exane BNP Paribas says there are glimmers of hope for the ailing chemicals sector as it projects "more of a slow trot than a galloping recovery"

** Exane sees positive signs in the start of a rate-cut induced recovery of construction activity in Europe and potentially also North America

** The broker also points to a normalization of European energy prices, with the price gap between Europe and other regions back to three-year lows

** However, it expects the demand crisis and overcapacity pressures to persist for years to come

** "Without an inflection point in sight, the most likely timeframe for recovery is H2," the boker says

** The broker says it prefers shares with European construction exposure, pricing power as well as undervalued cyclicality and cuts Evonik EVKn.DE to "neutral" from "outperform" while upgrading Wacker Chemie WCHG.DE to "neutral" from "underperform"

COMPANY	NEW RATING	OLD RATING
Azelis Group	outperform	outperform
Bayer	outperform	outperform
Brenntag	neutral	neutral
CF Industries	neutral	neutral
Clariant	outperform	outperform
Evonik	neutral	outperform
IMCD	outperform	outperform
K+S	underperform	underperfrom
Lanxess	neutral	neutral
Mosaic Company	outperform	outperform
Nutrien	outperform	outperform
Umicore	neutral	neutral
Wacker Chemie	neutral	underperform
Yara	underperform	underperform

(Reporting by Simon Ferdinand Eibach)

((Simonferdinand.eibach@thomsonreuters.com))

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class=\"title\">\nBUZZ-Exane sees slow recovery for chemicals\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1032215980\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2026-01-21 16:41</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html xmlns=\"http://www.w3.org/1999/xhtml\"><head><title>BUZZ-Exane sees slow recovery for chemicals</title></head><body><p>** Exane <a href=\"https://laohu8.com/S/BNPQF\">BNP Paribas</a> says there are glimmers of hope for the ailing chemicals sector as it projects \"more of a slow trot than a galloping recovery\"</p><p>** Exane sees positive signs in the start of a rate-cut induced recovery of construction activity in Europe and potentially also North America</p><p>** The broker also points to a 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positive signs in the start of a rate-cut induced recovery of construction activity in Europe and potentially also North America** The broker also points to a normalization of European energy prices, with the price gap between Europe and other regions back to three-year lows ** However, it expects the demand crisis and overcapacity pressures to persist for years to come** \"Without an inflection point in sight, the most likely timeframe for recovery is H2,\" the boker says** The broker says it prefers shares with European construction exposure, pricing power as well as undervalued cyclicality and cuts Evonik EVKn.DE to \"neutral\" from \"outperform\" while upgrading Wacker Chemie WCHG.DE to \"neutral\" from \"underperform\"COMPANYNEW RATINGOLD RATINGAzelis GroupoutperformoutperformBayeroutperformoutperformBrenntagneutralneutralCF IndustriesneutralneutralClariantoutperformoutperformEvonikneutraloutperformIMCDoutperformoutperformK+SunderperformunderperfromLanxessneutralneutralMosaic 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