Materials Stocks Rise As Dollar Slides - Materials Roundup

Features Dow Jones Newswires

Shares of miners and other commodities producers rose as the dollar slid against the euro and sterling in light of changes in interest-rate calculus. The dollar's run against the euro, the British pound and other currencies in recent years was predicated on the belief that the U.S. alone among developed nations would raise interest rates aggressively. Now, however, the European Central Bank and the Bank of England are shifting their rhetoric to indicate they, too, are in rate hiking mode. Copper futures hit a two-month high Wednesday, helped by the weaker dollar. Higher soybean plantings in the U.S. this spring boosted biotech seed giant Monsanto's quarterly profit, despite the broader slump in agricultural commodity prices.

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-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

June 28, 2017 16:43 ET (20:43 GMT)