Advertisement
UK markets close in 6 hours 10 minutes
  • FTSE 100

    7,966.96
    +34.98 (+0.44%)
     
  • FTSE 250

    19,823.94
    +13.28 (+0.07%)
     
  • AIM

    741.85
    -0.26 (-0.04%)
     
  • GBP/EUR

    1.1692
    +0.0023 (+0.20%)
     
  • GBP/USD

    1.2610
    -0.0029 (-0.23%)
     
  • Bitcoin GBP

    55,858.37
    +341.40 (+0.61%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • S&P 500

    5,248.49
    +44.91 (+0.86%)
     
  • DOW

    39,760.08
    +477.75 (+1.22%)
     
  • CRUDE OIL

    81.96
    +0.61 (+0.75%)
     
  • GOLD FUTURES

    2,219.00
    +6.30 (+0.28%)
     
  • NIKKEI 225

    40,168.07
    -594.66 (-1.46%)
     
  • HANG SENG

    16,541.42
    +148.58 (+0.91%)
     
  • DAX

    18,496.21
    +19.12 (+0.10%)
     
  • CAC 40

    8,245.76
    +40.95 (+0.50%)
     

Clariant CFO says worst of China's slump is over

ZURICH, April 28 (Reuters) - The worst of a six-quarter Chinese contraction is over for Swiss chemical maker Clariant , Chief Financial Officer Patrick Jany said, seeing a nascent turnaround on the strength of demand for ingredients for personal care, detergents and home cleaners.

"The dynamics in China since Q4 are slightly changing," Jany said in an interview on Thursday. "In our view, the worst is past, and even during the quarter there's quite a good start, after the Chinese New Year" in February.

In the United States, high prices continued to hamper any aspirations to expand Clariant (LSE: 0QJS.L - news) 's chemical-making capacity for the oil industry through acquisitions. Consequently, he said, the company is concentrating on hiring workers laid off by rivals that are "retreating from oil fields".

Clariant shares rose more than 7 percent after the company beat analyst expectations for first-quarter sales and operating profit. (Reporting by John Miller; Editing by Michael Shields)