Basic Materials Sector Wrap

Published July 06, 2012

| FOXBusiness

The Basic Materials sector (XLB) showed little movement on a trading day that saw S&P 500 fall 1%.

Cereplast (CERP) rose 26.7% to close at 38 cents, crossing its 50-day moving average of 35 cents. Meanwhile, Polypore International (PPO) dropped 4.4% to close at $38.52, moving below its 200-day moving average or $40.52.

Mountain Province Diamonds (MDM) rose 2% to close at $4, approaching its 50-day moving average of $4.08. It has also moved closer to its 200-day moving average of $4.54. Terra Nitrogen Company L.P (TNH) fell 1.3% to close at $217.98, moving down to 2.7% above its 200-day moving average of $212.07.

Prospect Global Resources (PGRX) was a significant gainer in the sector, rising 13.6%. The stock closed at $2.25 with 89,300 shares moving. The stock traded in a range of $1.90 to $2.74.

Allied Nevada Gold (ANV) was one of the sector's big losers, as its price dropped 4.6% (-$1.37) to close at $28.22. 556,048 shares of the stock moved. The stock traded between $27.95 and $29.24. The stock has been on an upward trajectory over the last two months, climbing $3.11 (12.4%) from a price of $25.11 on May 8, 2012.

MRC Global (MRC) hit a new 52-week high today, reaching $22.07 to top the previous high of $21.90.

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