FRANKFURT (dpa-AFX) - Shares in Evonik came under pressure on Thursday after the strong previous day. In addition to gloomy German economic data, which weighed on the entire chemical sector, concerns about business development spread among investors as a result of a skeptical study on Evonik by Goldman Sachs. The shares were one of the biggest losers in the MDax, falling by a good three percent to 19.61 euros. The previous day's rise above the 20 euro mark thus proved to be a false breakout.

Goldman Sachs analyst Georgina Fraser referred to statements made by management during an analysts' dinner on Wednesday. According to the statement, business recovered in May and, for perspective, in June compared with April, but less than expected. While the industry's inventory drawdown is now largely over, he said, underlying demand is weak. Fraser is therefore skeptical about Evonik's full-year targets.

On Wednesday, Evonik shares had still benefited from signals of some modest recovery in prices for the animal feed protein methionine. These have been weak for months, with corresponding traces in Evonik's business figures./mis/jha/