As Iceland’s volcanic ash storm settled and stranded airline passengers made their way back home, a financial storm brewing over Wall Street captured the news headlines during the April 20-26 reporting period, with Goldman Sachs officials battling fraud charges involving a debt product tied to subprime mortgages. The reporting period was also notable for positive quarterly results from Caterpillar and Ford Motor Co., which pushed the latter’s shares to a five-year high. Overall, the Dow Jones industrial average emerged on the positive side of the ledger, gaining 87.97 points or 0.79% to finish at 11,205.03, while the S&P 500 index rose 167.44 points or 1.38% to 12,280.97. The Nasdaq advanced 22.64 points or 0.91% to close at 2,522.95.
The big gains in mining came from coal, iron ore and potash stocks. Spot prices for coal started moving up last week, taking the share prices of coal companies with them. Coal giant Peabody Energy topped the charts with a US$4.35 gain to US$49.77 per share. Peabody has been in the news lately with an as of yet unsuccessful bid for Macarthur Coal. Consol Energy, the largest underground coal producer in the U.S., advanced US$2.57 to US$45.28 per share, and Alpha Natural Resources, a leading Central Appalachian coal producer, gained US$2.36 to close at US$52.21.
Stronger iron ore and potash prices lifted iron ore giant Cliffs Natural Resources US$4.29 to US$73 per share and Potash Corp. of Saskatchewan, which added US$2.89 per share to close at US$109.64. Both companies will release quarterly results this week.
On the gold front, the Philadelphia Gold and Silver index climbed 4.48 points or 2.67% to 172.49. In New York the spot price for gold rose US$12.60 per oz. to finish at US$1,153 per oz. Agnico-Eagle Mines posted the largest gain, climbing US$2.03 to US$61.16 per share and Goldcorp gained US$1.79 per share to US$40.63.Junior
US Antimony surged 15.3% to close at 60¢ per share as export prices of antimony from China rose above US$9,000 per tonne FOB on tight supply.
U.S. most active issues | |||||
VOLUME | WEEK | ||||
(000s) | HIGH | LOW | CLOSE | CHANGE | |
Alcoa* AA | 127390 | 14.29 | 13.50 | 14.05 | + 0.33 |
Freeport McMo*FCX | 74133 | 82.20 | 76.54 | 80.40 | -0.40 |
Hecla Mining* HL | 47885 | 6.00 | 5.52 | 5.89 | + 0.33 |
Barrick Gold* ABX | 33984 | 40.84 | 38.80 | 40.46 | + 1.32 |
Goldspring* GSPG | 33572 | 0.01 | 0.01 | 0.01 | 0.00 |
Massey Energy* MEE | 33222 | 45.35 | 41.30 | 43.61 | -0.80 |
Consol Energy* CNX | 30945 | 45.50 | 42.09 | 45.28 | + 2.57 |
Peabody Enrgy* BTU | 30169 | 50.25 | 44.85 | 49.77 | + 4.35 |
Goldcorp* GG | 29070 | 40.90 | 38.78 | 40.63 | + 1.79 |
Teck B* TCK | 28592 | 44.61 | 40.85 | 43.05 | + 1.30 |
U.S. greatest percentage change | ||||||
VOLUME | WEEK | |||||
(000s) | HIGH | LOW | CLOSE | CHANGE | ||
Legend Intl H* | LGDI | 2418 | 1.26 | 0.97 | 1.20 | + 20.0 |
Commerce Grp* | CGCO | 48 | 0.07 | 0.05 | 0.07 | + 16.6 |
Fischer-W Gld* | FWGO | 271 | 0.07 | 0.05 | 0.07 | + 16.6 |
US Antimony* | UAMY | 240 | 0.60 | 0.50 | 0.60 | + 15.3 |
New Gold* | NGD | 17353 | 5.96 | 5.15 | 5.93 | + 15.3 |
Paramount Gld* | PZG | 4755 | 1.87 | 1.60 | 1.80 | + 12.5 |
Geovic Mng* | GVCM | 707 | 0.89 | 0.77 | 0.82 | + 12.3 |
Puda Coal* | PUDA | 105 | 11.00 | 9.62 | 10.75 | + 11.7 |
NWT Uranium* | NWURF | 483 | 0.21 | 0.17 | 0.21 | + 10.5 |
PlatinumGpM* | PLG | 255 | 2.88 | 2.37 | 2.65 | + 10.4 |
World Vent* | WVNTF | 225 | 0.06 | 0.02 | 0.05 | -28.5 |
Yellowcake Mg* | YCKM | 84 | 0.04 | 0.03 | 0.03 | -25.0 |
Alberta Star * | ASXSF | 550 | 0.62 | 0.45 | 0.47 | -14.5 |
Grandview Gld* | GVGDF | 66 | 0.09 | 0.07 | 0.07 | -12.5 |
Caledonia Mng* | CALVF | 345 | 0.08 | 0.06 | 0.07 | -12.5 |
America West* | AWSR | 328 | 0.14 | 0.09 | 0.09 | -10.0 |
Pac Booker Mn* | PBM | 13 | 9.90 | 8.70 | 8.75 | -9.5 |
Cream Mnrls* | CRMXF | 160 | 0.11 | 0.09 | 0.10 | -9.0 |
Patriot Gold* | PGOL | 265 | 0.32 | 0.24 | 0.24 | -7.6 |
Contintl Mnls* | KMKCF | 305 | 2.26 | 2.06 | 2.09 | -7.1 |
U.S. greatest value change | ||||
WEEK | ||||
VOLUME | CLOSE | CHANGE | ||
Peabody Enrgy* | BTU | 30168990 | 49.77 | + 4.35 |
Cliffs Nat Rs* | CLF | 26433541 | 73.00 | + 4.29 |
Potash C Sask* | POT | 25042800 | 109.64 | + 2.89 |
Consol Energy* | CNX | 30944567 | 45.28 | + 2.57 |
Alpha Nat Res* | ANR | 15433613 | 52.21 | + 2.36 |
ASA (Bermuda)* | ASA | 60227 | 82.15 | + 2.21 |
Agnico-Eagle* | AEM | 8274261 | 61.16 | + 2.03 |
Arch Coal* | ACI | 27729416 | 27.96 | + 1.89 |
Compass Mnls* | CMP | 467200 | 79.17 | + 1.81 |
Goldcorp* | GG | 29070362 | 40.63 | + 1.79 |
Mechel* | MTL | 6170800 | 26.32 | -1.84 |
Mosaic* | MOS | 24690466 | 52.19 | -1.00 |
Pac Booker Mn* | PBM | 12500 | 8.75 | -0.92 |
BVN | 4899683 | 30.66 | -0.85 | |
Massey Energy* | MEE | 33222315 | 43.61 | -0.80 |
Rio Tinto* | RTP | 3212006 | 234.31 | -0.74 |
Vale* | VALE | 22997900 | 32.32 | -0.66 |
BHP Billi-BBL* | BBL | 9884722 | 66.23 | -0.58 |
Cameco Corp* | CCJ | 8443746 | 25.47 | -0.51 |
Freeport McMo* | FCX | 74133370 | 80.40 | -0.40 |
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