COATS issues had been drifting in a more or less directionless pattern for the past six months, and they remained generally unscathed by the latest bout of market instability on the world’s other major exchanges.
“The recent market gyrations had no real damaging effect on COATS issues,” said broker Mike Shunock of W. D. Latimer Co. in Toronto. “The share volume traded on COATS is no where near the same as that on the New York and Toronto stock exchanges, so the effect was really minimal.”
Several issues were easier last Friday, according to Shunock, but volumes and values recovered by the early part of the week.
“It’s been a pretty sloppy market for the past six months, and most of the mining issues just held their ground,” he said.
Statistics compiled on COATS trading activity showed the average daily volume traded for September was just over one million shares, with the average daily value at about $1.5 million.
On Tuesday, volume was back to 1,417,168 shares on COATS and trading remained generally normal with most mining issues in a holding pattern.
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