Shares in British speciality chemical maker Croda International (Other OTC: COIHF - news) fall as much as 4 percent, making it the biggest faller on the FTSE 100 (FTSE: ^FTSE - news) , after analysts at UBS (Xetra: UB0BL6 - news) downgrade the stock to "sell" from "neutral".
Croda, which makes chemicals used in personal care and home care products, has reported largely flat to declining earnings with only one clean beat over the past seven results releases, UBS analyst Thomas Gilbert says in a note.
"We believe Croda therefore needs to at least deliver consistent growth or regain momentum. Consumer care growth has fallen to below the 4.3 percent trend growth exhibited by underlying home & personal care market," Gilbert says.
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