Basic Materials Sector Wrap

Published May 16, 2012

| FOXBusiness

During trading today, the S&P 500 dropped 0.4%, and the Basic Materials sector (XLB) showed little change.

The ETF, as a proxy for the sector, tracked closer to the overall market today than over the past month. As trading began today, XLB was down 8.4% over the last thirty trading days, and the S&P 500 climbed -4.5%.

LSB Industries (LXU) was a major loser in the sector. Its price dropped 7.9% (-$2.36) to close at $27.65, as 534,549 shares moved. The stock traded between $27.56 and $30.60. The stock has been falling in the last two months, down $11.56 (-29.5%) from a price of $39.21 on March 19, 2012.

Increasing 3.8% (+33 cents) to close at $8.98, Ivanhoe Mines (IVN) was a major gainer in the sector. Today, 6.2 million shares traded hands. The stock traded in a range of $8.39 to $9.36.

Polypore International (PPO) declined 3.3% to close at $36.70, moving below its 50-day moving average of $37.33 and 200-day moving average of $43.79.

AngloGold Ashanti (AU) rose 2.8% to close at $31.66, approaching its 50-day moving average of $34.14. It has also moved closer to its 200-day moving average of $40.25. Carlisle Companies (MEOH) fell 2% to close at $53.26, moving closer to its 50-day moving average of $52.77. Also, the stock moved closer to its 200-day moving average of $28.69.

Molycorp (MCP) hit a new 52-week low today, hitting $21.60 to fall below the previous low of $23.05.

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