Monday, May 10, 2010

Chevron (NYSE:CVX), Exxon Mobil (NYSE:XOM) Gain on EU Bailout Loans

Chevron (NYSE:CVX) and Exxon Mobil (NYSE:XOM) were both up over 2 percent today as the news the European Union will offer close to $1 trillion in loans to battle the sovereign debt crisis.

Other sectors like the steel industry, with AK Steel (NYSE:AKS) and US Steel (NYSE:X) were also up big, while other raw material companies such as Alcoa Inc. (NYSE:AA) and Century Aluminum (NASDAQ:CENX) had big gains as well.

Copper and crude oil prices rose, while gold fell some as investors somewhat left it - temporarily - as a safe haven.

Goldcorp (NYSE:GG)Barrick Gold (NYSE:ABX) and Freeport-McMoRan (NYSE:FCX) were all up for the day, as of 1:00 P.M. EST.

No comments: