Basic Materials Sector Wrap

Published August 29, 2012

| FOXBusiness

The Basic Materials sector (XLB) showed little change during trading today while the S&P 500 rose 0.1%.

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 2.4% over the last seven trading days while the S&P 500 climbed -0.2%.

Increasing 13.8% (+$1.48) to close at $12.23, Molycorp (MCP) was a major gainer in the sector. Today, 23.6 million shares traded hands. The stock traded in a range of $10.88 to $12.48.

Sealed Air (SEE) rose 11% to close at $14.58, cross its 50-day moving average of $14.34 and 200-day moving average of $16.64. Rex American Resources (REX) declined 4.5% to close at $17.82, moving below its 50-day moving average of $18.39 and 200-day moving average of $22.24.

Innophos Holdings (IPHS) rose 1.3% to close at $47.20, approaching its 50-day moving average of $50.26. It has also moved closer to its 200-day moving average of $50.53.

Braskem (BAK) was a major loser in the sector, falling 7% (-96 cents) to close at $12.66 with 849,666 shares moving. The stock traded between $12.57 and $13.51. Share price climbed over the last three months, now up $1.81 (16.7%) from $10.85 on June 4, 2012.

Landec Corporation (LNDC) hit a new 52-week high today, reaching $9.99 to top the previous high of $9.96.

Vale (VALE) hit a new 52-week low today, hitting $15.80 to fall below the previous low of $16.50.

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