Materials Flat as Traders Hedge on Rates, Dollar -- Materials Roundup

Features Dow Jones Newswires

Shares of commodities producers were more or less flat as traders hedged their bets on the outlook for interest rates and the dollar. The Wall Street Journal reported that Mario Draghi, president of the European Central Bank, would be appearing at the central banking confab in Jackson Hole, Wyo., in the late summer. The appointment sparked rumors that Mr. Draghi would warn markets of a pivot in policy. ArcelorMittal shares rose after analysts at brokerage Deutsche Bank boosted their rating, saying the shares of the world's largest steelmaker by volume were undervalued, given the potential for 2018 earnings to be as much as double Wall Street estimates.

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-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

July 13, 2017 16:26 ET (20:26 GMT)