1317 GMT - Eni presented a grim outlook for the European chemicals sector as it progresses its restructure of chemicals business, RBC Capital Markets analysts say in a note. Eni's chemicals business has heavily dragged net results for the last five years, mainly due to higher costs, especially compared with competition outside of Europe. The Italian energy major sees average ethylene production costs in Europe as more than twice as high as in North America, and thrice as high compared with those of the Middle East. This presents a bleak outlook, not only for chemicals but also the broader industrial landscape in Europe, which looks to be in a structural decline, with no end in sight, RBC says. Shares are up 0.9% at 13.58 euros. (christian.moess@wsj.com)
(END) Dow Jones Newswires
December 04, 2024 08:24 ET (13:24 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。