U. S. Markets – DEC. 16-18

U. S. equity markets were up during the shortened Dec.16-18 trading session. The Dow Jones Industrial Average gained 40 points, or 0.5%, to 8,605; the S&P 500 index added 17 points, or 1.9%, to 885; and the Nasdaq rose 44 points, or 2.9%, to 1,552. Precious metal issues were mixed after staging a robust rally during the previous trading session, with the Amex Gold Bugs index adding 1 point, or 0.4%, to 275, and the Philadelphia Gold and Silver index dropping 2 points, or 1.6%, to 111.

The most important economic policy move during the session came from the U. S. Federal Reserve, which decided on an ultra-low federal funds rate, targeting a range of 0-0.25%.

National Bank economist Stfane Marion points out that the interest rate on a 30-year U. S. mortgage has now fallen to 5.28%. This is providing an economic stimulus, and has the potential to help reduce the housing inventory glut stateside.

Another positive signal for the market were moves by the White House to provide an aid package to help the Big Three U. S. automakers. After the trading session, the government came through with US$17.4 billion in short-term loans for the three.

The potash and fertilizer sector continued to rebound, with leader Potash Corp. of Saskatchewan gaining US$4.97 to US$74.22. Smaller producers Mosaic Co. and Intrepid Potash likewise posted gains, as did Sociedad Quimica y Minera de Chile.

NovaGold Resources continued its ascent from the last trading session, gaining US52¢ to US$1.86. The reason for the gain became clear after the trading session, when the company announced that it has managed to extend the maturity date of a bridge loan.

Gold explorer Banro, which has four projects in the Democratic Republic of the Congo, fell US30¢ to US98¢ on continued armed conflict between rebels and government forces in the country despite peace talks between the two sides.

The silver sector was mostly up, led by Apex Silver, which rose US56¢ to US$1.30. In November, Apex agreed to sell its 65% stake in the San Cristobal silver-zinc mine in Bolivia to minority partner Sumitomo for US$22.5 million.

U. S. most active issues
	VOLUME	WEEK
	(000s)	HIGH	LOW	CLOSE	CHANGE
Vale* RIO	117303	13.65	11.75	11.98	-0.01
Freeport McMo*FCX	71783	26.68	22.60	23.32	+ 0.81
Alcoa* AA	66576	10.92	9.72	9.77	-0.14
Barrick Gold* ABX	63878	37.84	32.31	33.31	+ 0.39
CoeurdAlene* CDE	55336	1.00	0.67	0.98	+ 0.28
Silver Wheatn* SLW	55286	6.98	5.05	5.40	+ 0.33
Goldcorp* GG	50060	33.20	27.72	28.45	-0.89
PotashCSask*POT	43992	82.99	72.24	74.22	+ 4.97
Newmont Mng* NEM	34417	41.79	36.77	37.20	-0.50
Kinross Gold* KGC	32524	19.07	16.04	16.34	-0.40

U. S. greatest percentage change
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
APEX Silver*	SIL	10129	1.67	0.75	1.30	+ 75.6
Silver Dragon*	SDRG	618	0.12	0.08	0.12	+ 71.4
Firstgold*	FGOC	768	0.25	0.14	0.25	+ 56.2
Cornerstone C*	CTNXF	25	0.06	0.03	0.03	+ 50.0
Colombia Gldf*	CGDF	888	0.04	0.02	0.03	+ 50.0
Uranium Ener*	UEC	1137	0.44	0.22	0.32	+ 45.4
Coeur d Alene*	CDE	55336	1.00	0.67	0.98	+ 40.0
NovaGold Res*	NG	22065	2.95	1.39	1.86	+ 38.8
Crosshair E&M*	CXZ	472	0.15	0.08	0.11	+ 37.5
Central Sun M*	SMC	2008	0.18	0.11	0.15	+ 36.3
Beeston Ent*	BESE	891	0.06	0.02	0.02	-71.4
World Vent*	WVNTF	55	0.03	0.01	0.01	-66.6
Industrl Mnls*	IDSM	145	0.02	0.01	0.01	-50.0
Brookmount Ex*	BMXI	22	0.09	0.03	0.05	-44.4
Argentex Mng*	AGXM	1382	0.11	0.07	0.07	-30.0
Augusta Res*	AZC	379	0.77	0.57	0.57	-26.9
Zoro Mng*	ZORO	174	0.05	0.03	0.03	-25.0
Banro Res*	BAA	244	1.42	0.95	0.98	-23.4
Petaquilla Mn*	PTQMF	478	0.40	0.28	0.30	-23.0
Caledonia Mng*	CALVF	1050	0.04	0.02	0.04	-20.0

U. S. greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
Potash C Sask*	POT	43992158	74.22	+ 4.97
Mosaic*	MOS	24440502	34.75	+ 3.29
Royal Gold*	RGLD	3759648	42.02	+ 2.41
Cliffs Nat Rs*	CLF	12159408	27.10	+ 1.98
Seabridge Gld*	SA	1065471	12.65	+ 1.88
AlumCpChina*	ACH	1107600	15.27	+ 1.68
Intrepid Pots*	IPI	1273700	20.21	+ 1.54
Agrium*	AGU	2381900	32.19	+ 1.42
Agnico-Eagle*	AEM	18175455	43.67	+ 1.36
Silver Std Re*	SSRI	4342058	13.68	+ 1.09
Randgold Res*	GOLD	4462135	40.16	-2.84
Alpha Nat Res*	ANR	6832782	18.40	-2.71
AngloGold Ash*	AU	10933420	24.47	-1.82
OM Group*	OMG	2385104	18.74	-1.52
Peabody Enrgy*	BTU	19972160	22.75	-1.30
Cabot Corp*	CBT	3152024	14.45	-1.18
Gold Fields*	GFI	23610327	8.56	-1.08
MDU Res*	MDU	5124057	20.81	-1.03
Harmony Gold*	HMY	10935119	9.14	-1.03
Goldcorp*	GG	50060426	28.45	-0.89