A fire broke out at the chemical company BASF on Monday afternoon following an explosion on the factory premises in Ludwigshafen.

The cause is still being investigated and the relevant authorities have been informed, BASF said. According to the police in Ludwigshafen, the fire has now been extinguished. According to BASF, a cloud of smoke was also clearly visible outside the site. The plant fire department was deployed and environmental monitoring vehicles were on the move inside and outside the site.

According to the Ludwigshafen fire department, fumes were released as a result of the fire in the southern part of the plant. It warned the population that there could be unpleasant odors and visual obstructions in the districts of Friesenheim, Oppau and Edigheim. The affected area should be avoided over a wide area. Windows and doors should be closed and ventilation and air conditioning systems switched off.

On the stock exchange, BASF shares lost up to 2.8 percent at the peak after the announcement and were the biggest loser in the leading Dax index.

(Report by Patricia Weiß, with the assistance of Reuters-TV, edited by Philipp Krach. If you have any questions, please contact our editorial team at berlin.newsroom@thomsonreuters.com (for politics and the economy) or frankfurt.newsroom@thomsonreuters.com (for companies and markets).)