Materials Up as Dollar Weakens -- Materials Roundup

Features Dow Jones Newswires

Shares of miners and other commodities producers rose as the dollar continued to slide against rivals, weakened by perceptions that political risk will slow Federal Reserve rate hikes. Gold futures, which have some inverse correlation to the dollar, continued their advance above $1250 an ounce. Copper futures rose, helped by the weak dollar and a statement form miners at Freeport McMoRan's Indonesian Grasberg mine that they will extend their strike for a second month. The Grasberg mine complex contains one of the world's largest reserves of copper, which is present both above and below ground. Industrial chemicals makers Huntsman and Clariant rose after the American and Swiss companies agreed to a $14 billion tieup that would unite chemicals offerings including polyurethanes, pigments, automotive fluids and household-cleaning products.

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-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

May 22, 2017 16:19 ET (20:19 GMT)