The materials sector is trading +0.4% versus the broader market is +0.6%.
In broker news: FOE +3.6% (Ferro upgraded to Buy from Hold at Deutsche Bank), Potash (POT +1.8%) and Mosaic (MOS +0.1%) upgraded to Buy from Hold at Citigroup, AA +0.7% (Alcoa initiated with Market Perform at First Global).
VALE +0.1% (Companhia Vale do Rio: CEO Ferreira stated yesterday that 3Q11 prices for iron ore sold to clients should be flat vs 2Q11 - Dahlman Rose), SMG -1.7% (Scotts Miracle-Gro downgraded to Neutral at JP Morgan).
In sector news: YONG +46.6% (Yongye Intl announces agreement regarding $50 million equity investment By Morgan Stanley Private Equity Asia), KBX +12.5% (Kimber Resources intercepts 4.9 metres of 78.4 g/t gold and 127.9 g/t silver below Carmen gold-silver deposit, Monterde project), ASH +11.3% (Ashland to acquire International Specialty Products for ~$3.2 bln in all cash transaction; expected to be immediately accretive).
ONP +8.5% (Orient Paper has engaged BDO Limited for the re-audit of its financial statements for FY08), UXG +1.6% (US Gold Corp reports Nevada exploration update-new encouraging results at Limo & Gold Bar).
AEM -0.5% (Agnico-Eagle Mines acquires 3 mln units of Colibri Resource), PZG -3.8% (Paramount Gold and Silver reports work to complete Preliminary Economic Assessments on San Miguel and Sleeper projects is progressing on schedule and on budget), PLM -6.4% (Polymet Mining reported on the status of the environmental review of its NorthMet copper-nickel-precious metals project located in northeastern Minnesota).






