Producers of metals and other raw materials rose slightly as traders bet the commodities sector would benefit from an increase in producer-price inflation.
The rate of wholesale inflation over the past 12 months climbed to 4.2% in March, the highest rate of annual price increases for commodities and factory goods since 2011. Markets were also rattled by the Labor Department's delayed release of the data, which was 25 minutes late. But the impact of the report was ultimately muted somewhat by the fact that much of the increase reflected higher energy prices.
Anglo Australian mining giant Rio Tinto entered into a binding agreement with Turquoise Hill Resources for an updated funding plan for the completion of the Oyu Tolgoi underground copper project in Mongolia, addressing the remaining funding requirements of $2.3 billion.
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(END) Dow Jones Newswires