The PCI Manufacturers’ Index
followed the rally, adding 31.09 points, or 2.24 percent, and ended at 1419.97.
However, advancing issues inched past declining issues at a 5-to-4
count.
BASF topped the gainers and carried much of the forward momentum of the
manufacturers this session. In August, BASF reported an 11.3 percent gain in
its second-quarter net income. BASF earned net income of €1.02 billion, compared with €920 million in the same quarter last year.
Analysts had predicted that BASF would earn €977 million. BASF
cited high prices for its products and robust demand. Its chemicals division
was especially strong and was boosted by BASF’s acquisition of Englehard. BASF
also won a $170 million award against U.S. supplier Lyondell for overpricing.
BASF jumped 8.20 points, or 6.33 percent, and was the top dollar and percentage
gainer. BASF closed at 137.65.