NEW YORK (
) -- ETFs focused on agricultural commodities were rising on Monday morning, as stocks paused for breath.
UBS E-Tracs CMCI Agriculture TR ETN
, which tracks an index consisting of 12 agriculture futures contracts, was up 6.5%. A sister ETF,
UBS E Tracs Food ETN
was gaining 3.5%, while the
iPath DJ-UBS Cotton TR ETN
was rising 2%.
Agricultural commodities are in demand as weather-related supply disturbances have sent prices of grains such as corn and wheat higher in the last few months.
Among equity ETFs, the
Claymore/NYSE Arca Airline Index
was a major gainer, rising 4% after
(LUV - Get Report)
agreed to acquire
for $1.4 billion. The ETF has a 13.7% exposure to Southwest Airlines, which was surging 9.6% on Monday forenoon trading.
Market Vectors gaming ETF
was also in focus following news on
(MGM - Get Report)
plans to list its Macau operations.
Emerging market ETFs such as the
Market Vectors Indonesia
iShares S&P Latin America 40 ETF
dominated the equity ETF buy list, while utility ETFs such as
Rydex Equal Weight Utilities
First Trust Alphadex Utilities
, up 0.3% each, were rising among domestic equities.
-- Written by Shanthi Venkataraman in New York
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