Materials Up as Traders See Synchronized Growth Continuing -- Materials Roundup

Features Dow Jones Newswires

Shares of commodities producers rose as traders bet the "synchronized" growth in global economic activity would continue.

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Corporate earnings overseas had long lagged those in the U.S. during the current economic cycle.

"Reasons include an overhang of excess capacity, the commodity selloff, the U.S. dollar's surge and China's economic slowdown," said Richard Turnill, global chief investment strategist at money manager BlackRock, in a note to clients. "Now the situation is different, thanks to the most synchronized global expansion in the post-crisis period."

Gold futures rose as tensions remained high between Iran and Saudi Arabia. The prospect that the long cold war between two of the biggest oil producers could escalate was stoked by the recent resignation of the Lebanese prime minister.

Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

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November 13, 2017 17:06 ET (22:06 GMT)