Industrials Sector Moves Little Amid M&A Action — Industrials Roundup
The industrials sector posted mild gains as the U.S. economy faced the prospect of higher inflation and borrowing costs than previously expected.
The Industrial Select Sector SPDR ETF, or XLI, was up 0.2%, bringing this year's performance to a 10% increase.
M&A activity also moved the sector.
Shares of Ducommun jumped 15% after the provider of engineering and manufacturing services received an indication of takeover interest from one of its biggest shareholders.
TechPrecision rallied 53% after the metal fabrication and precision machining company's deal to acquire Votaw Precision Technologies from Doerfer was terminated.
Write to Paulo Trevisani at paulo.trevisani@wsj.com
(END) Dow Jones Newswires
April 08, 2024 17:09 ET (21:09 GMT)
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