EXN - Materials gains in market comeback metals shine as China cuts reserve requirement: Weekly Wrap

Materials (XLB) moves up 2% erasing yesterday's losses on concerns over Treasury market.The sector took the front-seat in today's cyclicals rally leading to the third-straight weekly gain of major averages, flagging off concerns from surprise drop in yields on Thursday.The 10-year Treasury yield is back above 1.3%, rising 7 basis points to 1.36%. The 30-year is up 7 basis points to 1.98%.Here's a quick wrap on the performance of some major basic materials stocks over the holiday-shortened week:Grupo Simec (SIM) tops losers with 22% decline during the week; however, the stock joined broader market in today's action to pair losses at 11% gains."The rebirth of the U.S. steel sector is a real event" that justifies further upside for some of the stocks in the group, Credit Suisse analyst Curt Woodworth said in raising earnings estimates and stock price targets for several names.Aluminium Corporation of China Limited (ACH) up 7.95% to close at $15.07 on Friday factoring in the

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Materials gains in market comeback, metals shine as China cuts reserve requirement: Weekly Wrap