Business

Market Movers

Alcoa results give mining firms a boost

Mining firms got a boost from Alcoa’s results.

Petr David Josek/Reuters/File

Mining firms got a boost from Alcoa’s results.

A group of mining firms like Ohio-based Cliffs Natural Resources Inc. were among the biggest gainers in the S&P 500, helped by Alcoa’s mostly positive earnings report Monday of a larger than expected first-quarter profit. Cliff’s Natural, an iron ore mining company in Akron, jumped even though the company’s stock is still down 47 percent this year. Phoenix-based Freeport-McMoRan Copper & Gold, another mining company, gained $1.34, or 4.13 percent, to $33.77.

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