Materials-sector stocks fell as gold and silver prices declined, with Solstice Advanced Materials and Element Solutions among the day's losers. Two corporate developments accompanied the move: a Nevada drilling start by ICG Silver & Gold and Solstice's agreed purchase of Element Solutions.
Materials-sector shares slipped as gold and silver prices fell, dragging several names in the group lower on the session.
Solstice Advanced Materials was among the fallers, dropping 15.14% to $68.05. The move came as Solstice agreed to buy specialty-chemicals maker Element Solutions, aiming to expand its footprint in electronics and artificial intelligence infrastructure markets. Element Solutions itself fell 3.02% to $42.32.
On the mining side, Canada's ICG Silver & Gold said it had started its Phase 1, 3,000-meter reverse circulation drill program in the Tuscarora District in Elko County, Nevada, where the miner focuses its operations. For traders following the underlying metal, our guide on how to trade gold covers the mechanics.
Source: MarketScreener (snippet-based)
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