Materials Shares Retreat as China Data Weighs -- Materials Roundup

Producers of metals and other raw materials slipped as data from China weighed on the outlook for economic growth.

Reports in China showed factory activity contracting, home sales plunging and property developer Country Garden abandoning a share placement, which suppressed risk appetite, lifting the U.S. dollar and pushing lower the prices of industrial commodities such as copper.

A private gauge of China's factory activity tumbled into contraction in July, weighed down by slower output and weaker market demand. The China Caixin manufacturing purchasing managers index fell to 49.2 in July from 50.5 in June, according to data released Tuesday by Caixin Media Co. and S&P Global.

Gold prices kicked off August in the red as the appreciation of the U.S. dollar weighed on precious-metals prices.

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(END) Dow Jones Newswires

08-01-23 1659ET