Basic Materials Sector Wrap

Published August 17, 2012

| FOXBusiness

On a trading day that saw the S&P 500 gain 0.1%, the Basic Materials sector (XLB) showed little change.

As a proxy for the sector, the ETF tracked closer to the overall market today than over the past month. Entering today's trading, XLB was up 1.7% over the last thirty trading days. The S&P 500, in comparison, went up 3.2%.

Molycorp (MCP) was one of the sector's big losers, as its price dropped 11.8% (-$1.32) to close at $9.84. 32.4 million shares of the stock moved. The stock traded between $9.75 and $10.44.

China Natural Resources (CHNR) was a major gainer in the sector, rising 7.8% (+62 cents) to close at $8.54 with 4,962 shares moving. The stock traded in a range of $8.04 to $8.55.

Wausau Paper (WPP) rose 7.2% to close at $9.34, cross its 50-day moving average of $8.83 and 200-day moving average of $9.04.

Dynamic Materials Corporation (BOOM) rose 5.8% to close at $17.08, getting closer to its 200-day moving average or $18.63.

AEP Industries (AEPI) hit a new 52-week high today, reaching $49.73 to top the previous high of $47.84.

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