BASF Beats Estimates, Remains Positive for Rest of the Year

Bock: Customers are more cautious. BASF reported higher third-quarter revenues and, excluding the effect of an interruption to the company’s oil production in Libya, it increased operating results (Ebit). The company expects worldwide growth in GDP, and in industrial and chemical production for 2011 to be just one percentage point lower than previous forecasts. It sees full-year growth in worldwide chemicals production, excluding pharmaceuticals, at 4.5%-5% compared with previous estimates of 5%-6%. Demand for BASF’s products remained high in the...

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