FRANKFURT (dpa-AFX) - A study by U.S. bank JPMorgan on Wednesday gave investors some hope for a recovery in the chemical sector. This was accompanied by a rise in oil prices. In the MDax, the share prices of Lanxess and Wacker Chemie each rose by around two percent and Evonik by half a percent. The shares thus bucked a weaker overall market. Only BASF, which is listed on the Dax, was unable to keep pace, falling 0.4 percent.

Covestro shares were up 0.2 percent. However, speculation about an interest in buying the oil company Abu Dhabi National Oil (Adnoc) is still the main focus here.

JPMorgan analyst Chetan Udeshi wrote in a study of signs of a possible recovery in demand in the coming quarters, even if in the current third quarter is probably not yet reached a turning point. At least, however, the situation has not worsened.

Chemical companies have been suffering from a slump in demand for months, as many customers are using their inventories for the time being in the gloomy economic environment and are very reluctant to place orders.

In the meantime, however, there are signs of stabilization in the industrial sector in general, explains Udeshi. He also sees the rise in oil prices as quite positive. This could have an impact on the expectations of customers of chemical companies and make them more receptive to higher chemical prices./mis/ag/jha/