Timber, materials ETFs higher on paper demand

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Paper and packaging stocks jumped Friday, buoying exchange-traded funds that focus on timber and materials. WestRock Company gained nearly 7% midday, making it one of the biggest movers in the S&P 500 , with International Paper Company , up 5%, and Packaging Corporation of America , up 4.1%, not far behind. The Invesco MSCI Global Timber ETF gained more than 1% midday, while the iShares Global Timber & Forestry ETF was up 0.5%. The broad sector ETF that covers the industry, the SPDR Select Materials fund is the best performer of the 11 sector SPDRs over the past month, as investors have rotated away from pricey tech and consumer names toward stocks that are better value, and which stand to benefit from the new business cycle.
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