Those clinging to an intangible optimism about the state of the U. S. economy let go a little during the April 8-14 trading period, which started off with some pessimistic news from the U. S. Federal Open Market Committee. Some officials are warning of a “prolonged and severe economic downturn.”
The Dow Jones Industrial Average fell 310.37 points, or 2.5%, over the period to 12,302 and the NASDAQ dropped 89.01 points, or 3.8%, to 2,275.92.
The Amex Gold Bugs index slid 1.2% to 446.03 points and the Philadelphia Gold and Silver index was 1.4% lower at 182.18.
The most actively traded stocks stateside lost ground. Vale, with 93.6 million shares traded, fell US$1.10 to close at US$35.41; Alcoa, with 68.2 million shares, was one of the top losers, dropping US$3.51 to US$33.93; and Freeport-McMoRan Copper & Gold shed US$1.19 to US$105.39 on 45.7 million shares.
A class-action lawsuit was filed against Freeport at the end of the trading period over the cleanup of environmental hazards left by a past zinc miner in Blackwell, Okla.
The percentage gain list was dominated by penny stocks like Uranium Star, up 40% to US14; Puda Coal, rising 39% to US50 per share; and Sao Luis Mining, climbing nearly 38% to US11 apiece.
China Shen Zhou Mining & Resources fell nearly 28% to US$4.51 per share after it released fourth-quarter and 2007 results.Net revenues for the fourth quarter fell to US$2.1 million from US$7.8 million in 2006 due to a newly adopted schedule in accounting the depreciation and amortization of the company’s mining properties.
Forecasts calling for the continuing rise of potash and phosphate to surpass US$1,000 and US$1,100 per ton, respectively, made producers of the crop nutrients the biggest gainers over the period. New highs were reached by Potash Corp. of Saskatchewan, up US$8.72 to US$181.90, and Mosaic Co., up US$8.57 to US$126.40.
Yanzhou Coal lost the most value over the period, falling US$3.87 to US$73.71 per share.
Lihir Gold fell US$3.71 to US$29.50 per share. The company has agreed to buy fellow Aussie miner Equigold for US$913 million, giving it more mines in Africa and Australia.
| U. S. most active issues | ||||
| VOLUME | WEEK | |||
| (000s) HIGH | LOW | CLOSE | CHANGE | |
| Vale* RIO | 93561 37.73 | 34.93 | 35.41 | -1.10 |
| Alcoa* AA | 68246 37.63 | 33.76 | 33.93 | -3.51 |
| Freeport McMo*FCX | 45706 110.81 | 104.10 | 105.39 | -1.19 |
| CoeurdAlene*CDE | 44034 3.89 | 3.56 | 3.64 | -0.29 |
| PotashCSask* POT | 36718184.42 | 171.18 | 181.90 | + 8.72 |
| Barrick Gold* ABX | 34052 44.79 | 42.06 | 42.97 | -1.08 |
| Mosaic* MOS | 31025 127.78 | 116.51 | 126.40 | + 8.57 |
| Arch Coal* ACI | 28880 54.24 | 47.61 | 52.97 | + 4.75 |
| Gold Fields* GFI | 28036 14.81 | 13.62 | 14.54 | + 0.68 |
| Goldcorp* GG | 26266 41.07 | 38.95 | 40.04 | -0.48 |
| U. S. greatest percentage change | ||||||
| VOLUME | WEEK | |||||
| (000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Uranium Star* | URST | 498 | 0.14 | 0.10 | 0.14 | + 40.0 |
| Puda Coal* | PUDC | 6328 | 0.73 | 0.069 | 0.50 | + 38.8 |
| Sao Luis Mng* | SAOL | 353 | 0.12 | 0.081 | 0.11 | + 37.5 |
| Klondike Star* | KDSM | 286 | 0.68 | 0.42 | 0.65 | + 35.4 |
| Golden Phoen* | GPXM | 2551 | 0.22 | 0.162 | 0.21 | + 27.2 |
| Tombstone Exp* | TMBXF | 35 | 0.26 | 0.22 | 0.26 | + 18.1 |
| Silverado* | SLGLF | 11347 | 0.057 | 0.044 | 0.054 | + 17.3 |
| World Vent* | WVNTF | 46 | 0.15 | 0.13 | 0.15 | + 15.3 |
| El Capitan Pr* | ECPN | 594 | 0.19 | 0.16 | 0.18 | + 12.5 |
| Claude Res* | CGR | 1007 | 1.03 | 0.882 | 1.02 | + 12.0 |
| China Shen Zh* | SHZ | 50 | 6.35 | 4.50 | 4.51 | -27.8 |
| Silver Dragon* | SDRG | 661 | 0.37 | 0.26 | 0.27 | -25.0 |
| Raven Gold* | RVNG | 929 | 0.46 | 0.24 | 0.33 | -25.0 |
| Pac Gold* | PCFG | 2526 | 0.032 | 0.023 | 0.025 | -21.8 |
| Wealth Minls* | WMLLF | 32 | 0.687 | 0.644 | 0.644 | -21.3 |
| Cusac Gold Mn* | CUSIF | 38 | 0.106 | 0.08 | 0.08 | -20.0 |
| US Mine Maker* | USMM | 119 | 0.15 | 0.13 | 0.13 | -18.7 |
| North Am Pall* | PAL | 5125 | 6.60 | 5.31 | 5.31 | -18.3 |
| Gemini Expl* | GXPI | 1287 | 0.059 | 0.04 | 0.05 | -15.2 |
| Kimber Res* | KBX | 733 | 1.62 | 1.38 | 1.38 | -14.8 |
| U. S. greatest value change | |||
| WEEK | |||
| VOLUME | CLOSE | CHANGE | |
| Potash C Sask* POT | 36718270 | 181.90 | + 8.72 |
| Mosaic* MOS | 31024776 | 126.40 | + 8.57 |
| Agrium* AGU | 4578900 | 76.59 | + 6.91 |
| Cleveland-Cli* CLF | 7605362 | 147.91 | + 6.49 |
| Peabody Enrgy* BTU | 26035401 | 62.05 | + 5.06 |
| Foundatn Coal* FCL | 5523190 | 59.66 | + 4.94 |
| Arch Coal* ACI | 28880267 | 52.97 | + 4.75 |
| CONSOL Energy* CNX | 13045407 | 79.27 | + 4.71 |
| Rio Tinto* RTP | 1109851 | 460.20 | + 3.90 |
| BHP Billi-BBL* BBL | 4610106 | 68.24 | + 2.21 |
| Yanzhou Coal* YZC | 647491 | 73.71 | -3.87 |
| Lihir Gold* LIHR | 605105 | 29.50 | -3.71 |
| Alcoa* AA | 68246313 | 33.93 | -3.51 |
| Buenaventura* BVN | 2466841 | 68.58 | -3.19 |
| OM Group* OMG | 2746194 | 54.07 | -2.58 |
| China Shen Zh* SHZ | 50300 | 4.51 | -1.74 |
| Silver Std Re* SSRI | 3664507 | 29.52 | -1.72 |
| Alumina Inc* AWC | 467030 | 20.44 | -1.56 |
| Southern Copp* PCU | 7838936 | 114.42 | -1.53 |
| ASA (Bermuda)* ASA | 343635 | 83.95 | -1.50 |
Be the first to comment on "U. S. MARKETS APRIL 8-14"