Materials Down as Dollar Strengthens - Materials Roundup

Features Dow Jones Newswires

Shares of mining companies and other commodities producers fell as the dollar rebounded against other currencies. The dollar's weakness in recent sessions had buoyed prices of dollar-denominated industrial and precious metals.

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There are also fundamental reasons for the rebound, according to one brokerage.

"The best lead indicators of industrial commodity prices (China PMI and global industrial production) now imply modest upside," said analysts at brokerage Credit Suisse, in a research note.

Gold futures rose as bellicose rhetoric between North Korea and the U.S. was ratcheted higher after North Korea fired an intercontinental ballistic missile Tuesday.

Steelmaker AK Steel agreed to buy closely held Precision Partners for about $360 million in an expansion of its automotive steel supply business.

(-By Rob Curran, rob.curran@dowjones.com)

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(END) Dow Jones Newswires

July 05, 2017 16:19 ET (20:19 GMT)