U.S. Markets May 21-26

Stock markets in the United States took a break from setting records during the period May 21-26, with the Standard & Poor’s 500 Index down 9.37 points, or 0.6% of value, at 1,515.73 points.

That wasn’t the story in the golds, where both major indices were lower; the Philadelphia Gold and Silver Index was off nearly 2% at 135.80, and the Amex Gold Bugs Index fell back 2.5% to 322.25.

Newmont Mining touched another 52-week low at US$38.64 and finished down a quarter at US$39.20. AngloGold Ashanti was US96 lower at US$42.26, while Gold Fields slid US12 to US$17.23.

Coeur d’Alene Mines finished the period at US$3.56, off a 52-week low of US$3.47 and down US14 from the previous period.

Many of the base metal stocks, unlike the golds, were buoyant, driven at least partly by speculation surrounding Alcan. The aluminum producer was up US$3.90 at US$85, while pursuer Alcoa rose US$1.91 to US$40.90. Alcoa was the most actively traded among the mining stocks, with 50 million shares changing hands. Market thinking has both companies up as takeover targets, with Alcan possibly making a counter-bid for Alcoa, or one of the big diversified miners moving on one or the other. Rio Tinto was up US$10 at US$292.05, while two other companies mentioned as possible white knights for Alcan were down: BHP Billiton slipped US64 to US$50.95, and Companhia Vale do Rio Doce dipped US$1.70 to US$43.38.

The copper-sensitive miners made gains even as copper prices fell a little, to US$7,360.50 per tonne (US$3.34 per lb.) on the London Metal Exchange. Freeport-McMoRan Copper & Gold got as high as US$75.23, a 52-week high, before closing at US$74.61 for a gain of US$2.23. Southern Copper was US46 better at US$86.56.

The coal producers were mostly higher in the same period. Consol Energy posted the biggest gain, up US$1.44 at US$48.00. Mosaic led the industrial mineral producers, rising US$1.03 to US$32.97.

U.S. most active issues

		VOLUME(000s)	HIGH	LOW	CLOSE	CHANGE
Alcoa*	AA	49851	41.20	38.91	40.90	+1.91
Freeport McMo*	FCX	42201	75.23	71.22	74.61	+2.23
CVRD*	RIO	41995	45.45	41.71	43.38	-1.70
Newmont Mng*	NEM	35938	39.82	38.643	39.20	-0.25
Coeur d Alene*	CDE	31159	3.74	3.47	3.56	-0.14
Crystallex In*	KRY	27431	5.25	4.28	4.39	-0.69
Goldcorp*	GG	25387	23.95	22.45	22.86	-1.08
Alcan*	AL	23042	86.19	80.77	85.00	+3.90
StreetTr Gold*	GLD	22753	65.89	64.52	64.94	-0.73
Barrick Gold*	ABX	18507	30.30	28.70	28.90	-1.37

U.S. greatest percentage change

		VOLUME(000s)	HIGH	LOW	CLOSE	CHANGE
Sparrowtech R*	SPMC	445	0.075	0.023	0.065	+62.5
Starfield Res*	SRFDF	5570	1.375	0.91	1.32	+50.0
Peru Copper*	CUP	8813	7.00	5.28	6.45	+21.7
Sao Luis Mng*	SAOL	586	0.97	0.72	0.94	+18.9
Minera Andes*	MNEAF	2058	2.33	1.98	2.30	+13.3
NT Holding*	NTHH	69	0.09	0.06	0.09	+12.5
Nevsun Res*	NSU	789	2.25	1.92	2.12	+9.2
Miranda Gold*	MRDDF	79	1.29	1.19	1.29	+8.2
Linux Gold*	LNXGF	1519	0.20	0.16	0.194	+7.7
Clifton Mng*	CFTN	221	0.57	0.44	0.56	+7.6
Diamond Discv*	DMDD	273	0.007	0.006	0.007	-22.2
Madison Minls*	MMRSF	227	0.57	0.435	0.46	-22.0
Alberta Star *	ASXSF	603	1.54	1.19	1.26	-18.1
Uranerz Energ*	URZ	2586	6.65	5.60	5.76	-14.0
Silverado*	SLGLF	8282	0.119	0.10	0.102	-13.5
Crystallex In*	KRY	27431	5.25	4.28	4.39	-13.5
Denison Mines*	DNN	608	14.43	12.70	12.96	-13.3
Paramount Gld*	PGDP	362	2.65	2.27	2.38	-11.8
Patriot Gold*	PGOL	81	0.18	0.15	0.16	-11.1
McKenzie Bay*	MKBY	436	0.11	0.075	0.08	-11.1

U.S. greatest value change

		VOLUME	CLOSE	CHANGE
Rio Tinto*	RTP	1600400	292.05	+10.00
Alcan*	AL	23041946	85.00	+3.90
Cleveland-Cli*	CLF	5553041	78.13	+3.90
Freeport McMo*	FCX	42201476	74.61	+2.23
Alcoa*	AA	49851388	40.90	+1.91
CONSOL Energy*	CNX	10589655	48.00	+1.44
Peru Copper*	CUP	8812703	6.45	+1.15
Mosaic*	MOS	7230800	32.97	+1.03
Fording C C T*	FDG	4261407	29.47	+0.67
Arizona Star*	AZS	36100	12.08	+0.58
Soc Quim&M Ch*	SQM	174100	158.00	-6.32
Potash C Sask*	POT	4414169	200.75	-5.86
Denison Mines*	DNN	607500	12.96	-1.99
Yanzhou Coal*	YZC	284600	59.90	-1.87
Silver Std Re*	SSRI	3098159	36.67	-1.71
CVRD*	RIO	41995300	43.38	-1.70
Teck Comin B*	TCK	2121885	40.07	-1.64
Barrick Gold*	ABX	18506588	28.90	-1.37
Fronteer Dev*	FRG	2759315	12.25	-1.332
Agnico-Eagle*	AEM	6995527	33.98	-1.28