The Basic Materials sector (XLB) showed little change during trading today while the S&P 500 rose 0.1%.
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The ETF, as a proxy for the sector, tracked closer to the overall market today than over the past week. Entering today's trading, XLB was down 2.6% over the last seven trading days while the S&P 500 climbed -2%.
NN (NNBR) rose 25.5% to close at $9.35, cross its 50-day moving average of $8.22 and 200-day moving average of $7.70.
Preformed Line Products Company (PLPC) rose 5.6% to close at $55.94, approaching its 50-day moving average of $61.26. It has also moved closer to its 200-day moving average of $60.54. Methanex Corporation (ZAGG) fell 2.7% to close at $33.17, moving closer to its 50-day moving average of $32.70. Also, the stock moved closer to its 200-day moving average of $10.64.
Allied Nevada Gold (ANV) was a major loser in the sector, falling 10.7% (-$3.05) to close at $25.40 with 2.1 million shares moving. The stock traded in a range of $25.36 to $28.65. Over the last three months, the stock has lost $9.60 (-27.4%) from a price of $35 on February 8, 2012.
Arabian American Development Company (ARSD) was a major gainer in the sector, rising 6% (+55 cents) to close at $9.75 with 72,994 shares moving. The stock traded in a range of $9.02 to $9.89.