U.S. Markets January 16-22

United States equity markets got a trim, rather than a haircut, in the reporting period Jan. 16-22, during which the Standard & Poor’s 500 Index shrank 7.78 points, or 0.5% of value, to 1,422.95. Technology stocks, particularly, were hurt by adverse earnings news, and crude oil prices bumped off some 8-month lows, hurting energy stocks.

That translated into weakness in the golds and a mixed performance by base metal and coal stocks. The Amex Gold Bugs Index was down 5.08 points at 315.04, while the broader-based Philadelphia Gold Index was off 2.69 points at 132.09. Newmont Mining and AngloGold Ashanti were both down modestly, Newmont falling US15 to US$43.06 and AngloGold falling US19 to US$45.28. Canadian interlisteds mainly followed the loonie downward, while one mid-tier gold, Minas Buenaventura was up US$1.85 at US$27.63.

Companhia Vale do Rio Doce was the best performer in the base metals sector, tacking on US92 to finish at US$30.62 on a volume of 20.7 million shares. Just passing it as the most actively traded stock was Freeport-McMoRan Copper & Gold, which was down US$2.26 at US$52.75 on 21.7 million shares of volume. The implied value of Freeport’s bid for Phelps Dodge fell to US$123.34, down about US$1.52 from a week before, but Phelps shares also fell, slipping US$1.22 to US$118.68. That merger is currently under European Union scrutiny.

Among other base metal stocks, BHP Billiton rose US14 to US$39.66 and Southern Copper was US62 higher at US$55.88, while Rio Tinto shed US$2.53 to finish at US$203.90 and Anglo American dropped US83 to US$23.17.

Yanzhou Coal was the bright light in the coal sector, rising US$6.04 to US$48.84 and touching a 52-week high of US$48.93. Another new high in the coal stocks was Natural Resources Partnership, which touched US$60.30 on the way to a close of US$59.95, up US72. Arch Coal rose US58 to US$28.93 and Alpha Natural Resources slid US68 to US$12.52, bouncing off a 52-week low of US$12.32.

U.S. greatest percentage change

		VOLUME(000s)	HIGH	LOW	CLOSE	CHANGE
Diamond Discv*	DMDD	82	0.007	0.006	0.007	+40.0
Geocom Res*	GOCM	107	0.28	0.231	0.28	+21.2
Gemco Mnls*	GMML	52	0.15	0.102	0.14	+17.6
Halo Res*	HLOSF	211	0.38	0.345	0.379	+16.6
Starfield Res*	SRFDF	2234	0.28	0.21	0.275	+15.0
Fronteer Dev*	FRG	1425	10.34	8.70	10.01	+14.9
Silverado*	SLGLF	32529	0.103	0.077	0.095	+14.4
Idaho Gen Mn*	GMO	217	2.88	2.37	2.88	+14.2
Yanzhou Coal*	YZC	222	48.93	42.79	48.84	+14.1
New Jersey Mg*	NJMC	373	0.87	0.55	0.67	+13.5
Commerce Grp*	CGCO	93	0.10	0.06	0.08	-66.6
Michigan Gold*	MGGV	573	0.007	0.004	0.004	-42.8
NT Holding*	NTHH	288	0.23	0.13	0.17	-26.0
HuntMountain*	HNTM	19	0.80	0.60	0.60	-25.0
HE-5 Res*	HRRN	26	0.375	0.29	0.295	-22.3
Uranerz Energ*	URZ	646	3.85	2.95	2.97	-20.5
Douglas Lk Ml*	DLKM	190	1.50	0.85	1.25	-19.8
Mesabi Trust*	MSB	369	28.25	24.04	24.71	-14.5
US Antimony*	UAMY	11	0.45	0.44	0.44	-13.7
Rubicon Mnls*	RBY	71	0.65	0.52	0.54	-12.9

U.S. greatest value change

		VOLUME	CLOSE	CHANGE
Yanzhou Coal*	YZC	221700	48.84	+6.04
Buenaventura*	BVN	2014200	27.63	+1.85
Soc Quim&M Ch*	SQM	107200	129.35	+1.49
Fronteer Dev*	FRG	1425000	10.01	+1.30
CVRD*	RIO	20665400	30.62	+0.92
Fording C C T*	FDG	1961700	21.27	+0.78
Natural Rs Pt*	NRP	229200	59.95	+0.72
CONSOL Energy*	CNX	6655500	32.80	+0.65
Peabody Enrgy*	BTU	12952200	40.62	+0.62
Southern Peru*	PCU	6107700	55.88	+0.62
Potash C Sask*	POT	2775800	138.32	-6.65
NACCO Ind*	NC	80900	133.00	-6.38
Mesabi Trust*	MSB	369200	24.71	-4.22
Rio Tinto*	RTP	1341800	203.90	-2.53
Freeport McMo*	FCX	21262400	52.75	-2.26
Alcan*	AL	3854000	47.67	-2.21
OM Group*	OMG	2055100	44.13	-1.89
Agnico-Eagle*	AEM	6293900	36.50	-1.88
Royal Gold*	RGLD	1085663	30.36	-1.73
Cameco Corp*	CCJ	6363100	37.57	-1.50

U.S. most active issues

		VOLUME(000s)	HIGH	LOW	CLOSE	CHANGE
Golden Eagle*	MYNG	33429	0.01	0.006	0.008		0.00
Silverado*	SLGLF	32529	0.103	0.077	0.095	+0.012
Alcoa*	AA	22092	31.74	30.17	31.17	+0.38
Freeport McMo*	FCX	21262	55.00	51.93	52.75	-2.26
CVRD*	RIO	20665	30.79	28.81	30.62	+0.92
Goldcorp*	GG	18637	26.48	25.04	25.23	-0.94
Newmont Mng*	NEM	17727	43.82	42.16	43.06	-0.15
Barrick Gold*	ABX	14063	29.32	28.09	28.35	-0.90
Phelps Dodge*	PD	12956	120.74	117.90	118.68	-1.22
Peabody Enrgy*	BTU	12952	41.41	38.85	40.62	+0.62