U.S.Markets April 18-24

United States stock markets had nearly steady gains during the reporting period April 18-24, as the Federal Reserve Bank’s Open Market Committee indicated general satisfaction with the U.S. economy. With any fears of interest-rate increases soothed, the Standard & Poor’s 500 Index gained 22.78 points over the period, to finish 1.8% higher at 1,308.11.

The rising tide in the oil market — crude went as high as US$75.35 per barrel — lifted some coal boats as well. Arch Coal was up US$19.55 at US$98.94, Foundation Coal rose US$10.20 to US$52.10, and Kerr McGee rose US$2.83 to US$104.83. Peabody Energy added US$13.02 to finish at US$64.38, and announced that it had concluded an alliance with Chinese state coal-mining agency Shenhua Group. Peabody and Shenhua will be looking at joint ventures in China and internationally.

Tensions over Iranian nuclear-weapons ambitions fuelled buying in the gold market, pulling gold to US$634 in the London morning fix on April 24. The buying came not only from speculators but from the Persian Gulf as well: Iranian newspapers were reporting a surge in demand for gold coins as a secure investment.

Most of the gold equities tagged along, though bullion seems to be outpacing gold stocks in the current market spike. Newmont Mining was up US60 at US$56.67, Gold Fields rose US97 to US$24.97, and Minas Buenaventura jumped US$2.02 to US$27.20, but AngloGold Ashanti slid US8 to US$52.75.

The volatility was greatest in the silver market, where bullion ended at US$12.47 per oz. after running up to US$14.31. That threw most of the silver-sensitive stocks for a loss after many had traded at or near 52-week highs. Coeur d’Alene Mines fell US6 to US$6.91 after trading at US$7.37, Apex Silver settled US$3.32 lower at US$22.18 after touching US$25.88, and Hecla Mining finished at US$6.52, down US11, after going as high at US$7.07.

High copper prices pushed the base metal issues, though Phelps Dodge finished US$1.15 lower at US$86.33. Southern Peru Copper was US$4.28 higher at US$98.78 while Freeport-McMoRan Copper & Gold rose US71 to US$65.90, touching a 52-week high of US$72.20 on the way.

U.S. greatest percentage change

		Volume(000s)	High	Low	Close	Change
Nord Res*	NRDS	243	0.90	0.59	0.90	+52.5
Goldfield*	GV	1949	1.85	1.23	1.81	+44.8
El Capitan Pr*	ECPN	3976	4.10	2.90	3.79	+34.4
Peabody Enrgy*	BTU	21895	65.80	51.45	64.38	+25.3
Arch Coal*	ACI	13048	101.30	80.39	98.94	+24.6
Foundatn Coal*	FCL	7297	52.56	42.15	52.10	+24.3
Aberdene Mine*	ABRM	1408	0.75	0.575	0.72	+24.1
Linux Gold*	LNXGF	5771	0.499	0.37	0.45	+23.2
Caledonia Mng*	CALVF	11052	0.185	0.135	0.185	+18.5
Newgold*	NGLD	530	0.20	0.15	0.185	+18.5
AuGrid*	AUGC	36981	0.002	0.001	0.001	-50.0
Lafayette Mng*	LYMGF	217	0.13	0.08	0.08	-33.3
Goldspring*	GSPG	95499	0.017	0.009	0.01	-23.0
Apollo Gold*	AGT	4097	0.83	0.55	0.65	-19.7
Golden Eagle*	MYNG	14180	0.03	0.024	0.025	-16.6
Golden Phoen*	GPXM	6465	0.51	0.39	0.422	-15.6
Cusac Gold Mn*	CUSIF	693	0.35	0.262	0.285	-14.9
Geocom Res*	GOCM	128	0.59	0.40	0.50	-13.7
Northw Min Vt*	NWTMF	3120	0.93	0.74	0.78	-13.2
Apolo Gold*	APLL	1541	0.135	0.101	0.105	-13.2

U.S. greatest value change

		Volume	Close	Change
Arch Coal*	ACI	13047600	98.94	+19.55
Peabody Enrgy*	BTU	21894600	64.38	+13.02
Foundatn Coal*	FCL	7296800	52.10	+10.20
CONSOL Energy*	CNX	7902700	86.45	+7.24
Potash C Sask*	POT	3374500	91.20	+4.34
Southern Peru*	PCU	5832700	98.78	+4.28
Massey Energy*	MEE	12643200	40.04	+4.23
Lihir Gold*	LIHRY	390424	46.77	+3.42
CVRD*	RIO	11853300	51.68	+3.06
Kerr McGee*	KMG	6560100	104.83	+2.83
APEX Silver*	SIL	4713100	22.18	-3.32
Pan Am Silver*	PAAS	11318504	23.82	-2.11
Mesabi Trust*	MSB	621700	22.90	-2.10
Royal Gold*	RGLD	2965330	33.92	-1.73
Gammon Lk Res*	GRS	941600	15.42	-1.57
Phelps Dodge*	PD	18668400	86.33	-1.15
Silver Std Re*	SSRI	5068144	20.57	-1.11
Aber Diamond*	ABER	55298	40.099	-0.751
Glamis Gold*	GLG	7137900	36.16	-0.75
Silver Wheatn*	SLW	6939500	10.47	-0.71

U.S. most active issues

		Volume(000s)	High	Low	Close	Change
UNICO Inc*	UNCN	1207860	0.002	0.001	0.001	0.00
Goldspring*	GSPG	95499	0.017	0.009	0.01	-0.003
AuGrid*	AUGC	36981	0.002	0.001	0.001	-0.001
Alcoa*	AA	31805	35.58	34.28	35.53	+1.53
Newmont Mng*	NEM	31500	58.72	55.24	56.67	+0.60
Coeur d Alene*	CDE	29576	7.37	6.65	6.91	-0.06
DRDGOLD*	DROOY	23389	1.75	1.50	1.52	-0.06
Freeport McMo*	FCX	21966	72.20	64.67	65.90	+0.71
Peabody Enrgy*	BTU	21895	65.80	51.45	64.38	+13.02
Barrick Gold*	ABX	19455	31.18	29.39	29.88	-0.24