Positives outweigh negatives on Birmingham stock report
A building materials manufacturer with a pair of locations in Alabama led the gainers Monday on a mostly positive day on our Birmingham and Alabama Stock Report.
Louisiana-Pacific gained 4.1%, or $2.15, to close at $54.57 a share.
Founded in 1972, the Nashville-based company operates more than 20 manufacturing facilities across North and South America, including two in Alabama – one in Hanceville and one in Thomasville. Both Alabama sites make oriented strand board. It is made when wood strands blended with thermal-set water-resistant adhesives are arranged in cross-directional layers and formed under extreme pressure, creating a stiff, strong and durable panel.
A trio of Birmingham-based companies were next. Regions, ServisFirst and ProAssurance gained 3.2%, 3.1% and 2.8%, respectively.
Overall, U.S. stocks rallied Monday as some of last week’s moves in financial markets driven by worries about war in the Middle East unwound.
The S&P 500 rose 1.1% for its best day since the Oct. 7 surprise attack on Israel by Hamas. The Dow Jones Industrial Average gained 314 points, or 0.9%, and the Nasdaq composite jumped 1.2%.