Yara, K+S fall on downgrades, Potash report
Thu Apr 23, 2009 12:16pm BST
Shares in fertilizer makers Yara International (YAR.OL) and K+S (SDFG.DE) both drop more than 4 percent, extending falls after the first-quarter report from Canadian peer Potash Corp of Saskatchewan (POT.TO).
Potash Corp, one of the biggest fertilizer producers in the world, says in its report it sees lower sales volumes through at least the first half of 2009.
"That says something about the demand for fertilizer in general," one Oslo-based trader says.
Citigroup earlier cut its rating for Norway's Yara to "sell" from "hold" and German fertilizer and salt supplier K+S to "hold" from "buy" [ID:nWNAB6609].
K+S also launches syndication of a 1.4 billion euro acquisition loan, banking sources said. [ID:nLM941807]
http://uk.reuters.com/article/hotStocksNews/idUKLN94393420090423
Yara, K+S fall on downgrades, Potash reportThu Apr 23, 2009...
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