Alcoa Inc. (AA) announced Monday morning that it formed a joint venture with Ma'aden, the Saudi Arabian Mining Company, to develop a fully integrated aluminum industry in the Kingdom of Saudi Arabia.
Alcoa Inc. gapped up Monday and rose steadily during the first hour of trade. The stock finished higher by $1.15 at $15.73 on above average volume. Alcoa climbed past resistance and closed at a new high for the year.
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