Metals and Mining

Winners & Losers: Alcoa, Barrick Gold

Stock quotes in this article:TGB, ANR, AA, VALE, FCX, ABX 

NEW YORK (TheStreet) -- Commodities and consumer stocks led the gains in the broader indices today, as a jump in exports offset concerns about an increase in weekly unemployment claims and stoked hopes of a broader economic recovery. The Dow Jones Industrial Average ended the day up 69 points while the S&P 500 added 6 points.

Taseko Mines(TGB) shot up 6.2% to end the trading session at $3.90. The British Columbia based mining company said at the end of last month that it planned on selling a 25% stake in its Gibraltar copper and molybdenum mine to Japanese trading house Sojitz Corp. for about $171 million.

Alpha Natural Resources(ANR) jumped 3.5% to $39.80 after an analyst upgraded the coal operator on expectations that it is positioned to gain from rising demand in Europe.

Macquarie Equities Research analyst Curt Woodworth said as exports to key European steel customers gain momentum, he expects Alpha will shift its mix more heavily toward exports in 2010, where profitability is significantly higher than in the U.S. Steel makers use metallurgical coal in their production process.

Shares of Alcoa(AA) jumped 3.2% to $13.50 even as it said that it has not yet reached an agreement on energy supplies in Italy, despite a report saying that it already had. In November Alcoa had announced the temporary closure of two aluminum smelters in Fusina and Portovesme, Italy because of uncertainty in obtaining future power supply for the smelters at competitive rates and European regulatory setback.

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Dow Jones S&P 500 NASDAQ 10-Year Note
12,890.46 1,351.95 2,927.23 20.47
Oil *
118.75
UP
6.51
UP
1.99
UP
11.37
UP
0.72
10 Yr
2.05%
SPDR Gold
168.02
+0.05%
+0.15%
+0.39%
+3.65%
Data delayed 20 minutes

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