Basic Materials Sector Wrap

Published May 25, 2012

| FOXBusiness

The Basic Materials sector (XLB) held steady on a trading day that saw S&P 500 drop 0.3%.

Although it went in the opposite direction of the market today, the ETF tracked closer to the overall market today than over the past week. Going into trading today, XLB was up 3.7% over the last seven trading days. The S&P 500, meanwhile, was up 1.8%.

China Shen Zhou Mining \x26 Resources (SHZ) rose 34.2% to close at $1.14, cross its 50-day moving average of $1.10 and 200-day moving average of $1.52. RTI International Metals (RTI) declined 2.5% to close at $23.51, moving below its 50-day moving average of $24.12 and 200-day moving average of $24.07.

Richmont Mines (RIC) rose 6.2% to close at $6.15, approaching its 50-day moving average of $6.45. It has also moved closer to its 200-day moving average of $9.29. ADA-ES (CBT) fell 2.2% to close at $25.91, moving closer to its 50-day moving average of $25.75. Also, the stock moved closer to its 200-day moving average of $38.06.

Sims Metal Management (SMS) was a major loser in the sector, falling 8.9% (-$1.05) to close at $10.81 with 336,100 shares moving. The stock traded between $10.70 and $11.24. The stock has fallen over the last three months, dropping $5.45 (-33.5%) from $16.26 on February 29, 2012.

China Natural Resources (CHNR) was a significant gainer in the sector, rising 6.3%. The stock closed at $6.88 with 3,303 shares moving. The stock traded in a range of $6.41 to $7.15.

Sinopec Shanghai Petrochemical (SHI) hit a new 52-week low today, hitting $28.48 to fall below the previous low of $28.91.

URL

http://www.foxbusiness.com/markets/2012/05/25/basic-materials-sector-wrap/