Wacker Chemie News
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German stocks were little changed from a record high, as declines in bank stocks offset gains in chemical companies.
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China, the world’s biggest maker of solar panels, is preparing to set anti-dumping duties on imports of the raw material used to make the equipment after determining it was sold below cost, said two people with direct knowledge of the matter.
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Wacker Chemie AG retreated from a 2 1/2-week high after Equinet Bank AG cut its recommendation to sell, saying excess polysilicon production will limit earnings at the solar-panel material supplier.
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Wacker Chemie AG, the fourth- biggest maker of polysilicon, posted quarterly earnings in line with estimates and said demand for the component for solar panels was “noticeably” higher than in the previous period.
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SMA Solar Technology AG, Germany’s biggest solar-energy company by market value, led a surge of European peer stocks after a higher-than-expected forecast by First Solar Inc. of the U.S. fueled optimism the industry may be emerging from a slump.
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European stocks gained the most in a month, with the Stoxx Europe 600 Index posting its longest winning streak since January, as banks advanced and a report showed Chinese imports beat forecasts in March.
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Stocks jumped, sending the Standard & Poor’s 500 Index to a record, as China’s imports grew, Japan reiterated its stimulus plans and investors speculated earnings will beat estimates. Treasuries fell after minutes showed the Federal Reserve debated the end of its bond purchases.
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Wacker Chemie AG, the fourth-biggest maker of polysilicon, rose the most in a month in Frankfurt trading after saying it will increase production to meet demand from solar-power developers.
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Shares of the following companies may have unusual moves in European trading. Stock symbols are in parentheses.
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Chinese equities traded in New York fell, extending last week’s steepest slump in the benchmark index since May, as renewed concern over Europe’s economy damped the outlook for the world’s biggest exporter.
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