Materials Shares Rise After Jobs Report - Materials Roundup

Shares of miners and other commodities producers rose after strong jobs data inspired hope for higher demand. Employers in June boosted nonfarm payrolls by a seasonally adjusted 222,000 from the prior month, the Labor Department said Friday. The unemployment rate ticked up to 4.4% from 4.3% the prior month, but that was mostly because more people joined the workforce and registered as jobseekers. The jobs report showed growth in employment in the materials sector of the U.S. economy. Gold futures, often used to hedge against geopolitical or economic shocks, settled at a four-month low in the wake of the report. Activist investor Elliott Management said it was seeking to remove paint maker Akzo Nobel Chairman Antony Burgmans because of the board's handling of the failed $27.6 billion bid from PPG Industries.

-Rob Curran,

(END) Dow Jones Newswires

July 07, 2017 16:44 ET (20:44 GMT)