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Deutsche Bank: Slowing Volumes and Rising Costs Will Pressure Second-Quarter Earnings; Specialty Makers Are Hardest Hit (update, adds earnings)
4:37 AM MDT | July 15, 2008 | Kerri Walsh
Second-quarter European chemical industry earnings will continue to be squeezed by slowing volumes, unfavorable currency exchange rates, and rising raw material costs, â€śbut with some modest worseningâ€ť compared with the first quarter, says a report issued today by Deutsche Bank (London) analyst Tim Jones. Second-quarter volumes will be â€śreasonableâ€ť because of strengthening demand in Asia, but companies are expected to report a slowdown in growth, particularly in Europe, Jones says. U.S. markets continue to lag, he says. â€śOn costs, there is little room...
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