FRANKFURT (dpa-AFX) - The slide in BASF shares continued on Monday. Market participants cited reports of an explosion at the Ludwigshafen plant and a subsequent fire as a negative factor. At 42.51 euros, the chemical company's shares fell to their lowest level since the end of November. As the biggest loser in the DAX, they recently lost a further 2.3 percent.

Since their high for the year of almost 55 euros at the beginning of April, they have already lost 22 percent and, with a discount of more than twelve percent since the beginning of the year, are among the weakest stocks in Germany's leading index, the Dax.

On Friday, business figures from the Ludwigshafen-based company had already put pressure on the shares. The Group recorded a surprisingly significant drop in sales in the second quarter.

On Monday, some analysts cut their price targets, such as Samuel Perry from UBS from 58 to 51 euros. He cut his operating earnings estimates until 2026, saying that the recovery in demand is being delayed, although this is now more than priced in. All eyes were on the new strategy for the Ludwigshafen site, which will probably be presented at the Capital Markets Day in September./ajx/jha/