U.S. markets were closed Feb. 15 for the Presidents Day holiday after a week of mixed economic news. Federal Reserve Chairman Ben Bernanke stoked anxiety with details of how the central bank will start to tone down its monetary stimulus policy, while China hiked bank reserve requirements for the second time in two months to cool its economy. The other big news: European leaders pledged to support Greece. Athens needs to borrow US$75 billion this year to cover its deficit and refinance debts. The Dow Jones industrial average moved up 40.5 points or 0.4% to close the abbreviated Feb. 9-12 reporting period at 10,099.14 points, while the S&P 500 index advanced 4.99 points or 0.47% to finish at 1,075.51.
Gold miners dominated the list of most actively traded stocks, closing at US$1,092.40 per oz. in New York on Feb. 12. Agnico-Eagle Mines gained US$5.84 to US$58.13 per share, followed by Freeport-McMoRan Copper & Gold, which rose US$4.48 to US$73.68 and Barrick Gold up US$2.13 to US$36.70 per share. The Amex Gold Bugs index climbed 2.74% or 10.71 points to 401.71 and the Philadelphia Gold and Silver index increased 2.92% or 4.53 points to 159.60.
Strengthening iron ore prices boosted Cliffs Natural Resources, to US$45.87 per share, a gain of US$5.43, while BHP Billiton mounted US$4.23 to US$72.13. On Feb. 12, BHP Billiton’s chief, Marius Kloppers, told the Australian Broadcasting Corp. that rebounding demand from China could push up benchmark iron ore prices in the coming months, noting that forward prices are currently about 100% higher than benchmark prices.
Potash producers were all up on news that Canpotex, the world’s largest potash exporter, had inked an agreement with China’s Sinofert, on a spot sale of about 350,000 tonnes of Canadian potash at “competitive prices.” The product is to be shipped to China before the end of March. The deal means Canpotex is fully committed on sales through the first quarter of 2010. Canpotex is the export arm of Potash Corp. of Saskatchewan, Agrium and Mosaic. During the reporting period Potash Corp. advanced US$10.09 to US$111.60 per share, Agrium gained US$6.49 to US$64.26 and Mosaic added US$4.29 to US$58.83.
U.S. most active issues | |||||
VOLUME | WEEK | ||||
(000s) | HIGH | LOW | CLOSE | CHANGE | |
Alcoa* AA | 157117 | 13.65 | 13.00 | 13.28 | + 0.22 |
Freeport McMo*FCX | 88673 | 74.73 | 69.16 | 73.68 | + 4.48 |
Goldspring* GSPG | 65888 | 0.01 | 0.01 | 0.01 | 0.00 |
Hecla Mining* HL | 54698 | 5.19 | 4.69 | 5.12 | + 0.55 |
Barrick Gold* ABX | 44307 | 37.17 | 34.93 | 36.70 | + 2.13 |
Goldcorp* GG | 41616 | 37.52 | 35.10 | 37.17 | + 2.78 |
Newmont Mng* NEM | 40556 | 46.93 | 44.33 | 46.53 | + 2.12 |
Teck B* TCK | 37533 | 36.05 | 32.84 | 35.88 | + 3.87 |
Kinross Gold* KGC | 30591 | 18.32 | 16.98 | 18.20 | + 1.55 |
Gold Fields* GFI | 30286 | 11.95 | 11.23 | 11.86 | + 0.66 |
U.S. greatest percentage change | ||||||
VOLUME | WEEK | |||||
(000s) | HIGH | LOW | CLOSE | CHANGE | ||
Geocom Res* | GOCM | 20 | 0.02 | 0.01 | 0.02 | +100.0 |
Amazon Goldsd* | AZNG | 79 | 0.45 | 0.25 | 0.44 | + 46.6 |
Uranium Star* | URST | 2923 | 0.46 | 0.31 | 0.46 | + 43.7 |
Quaterra Res* | QMM | 284 | 1.81 | 1.32 | 1.72 | + 32.3 |
Augusta Res* | AZC | 180 | 2.75 | 2.15 | 2.72 | + 24.7 |
Patriot Gold* | PGOL | 731 | 0.29 | 0.17 | 0.27 | + 22.7 |
China Shen Zh* | SHZ | 54 | 1.40 | 0.92 | 1.11 | + 21.9 |
Xtra-Gold Res* | XTGR | 83 | 1.25 | 0.96 | 1.25 | + 21.3 |
Caledonia Mng* | CALVF | 382 | 0.07 | 0.06 | 0.06 | + 20.0 |
Vista Gold* | VGZ | 1318 | 2.39 | 2.03 | 2.39 | + 16.5 |
Tombstone Exp* | TMBXF | 52 | 0.05 | 0.04 | 0.04 | -20.0 |
Argentex Mng* | AGXM | 336 | 0.72 | 0.61 | 0.64 | -11.1 |
Starfield Res* | SRFDF | 120 | 0.09 | 0.08 | 0.09 | -10.0 |
Goldfield* | GV | 109 | 0.42 | 0.38 | 0.40 | -9.0 |
New Jersey Mg* | NJMC | 95 | 0.24 | 0.21 | 0.22 | -8.3 |
Canarc Res* | CRCUF | 27 | 0.14 | 0.13 | 0.13 | -7.1 |
El Capitan Pr* | ECPN | 168 | 0.15 | 0.12 | 0.14 | -6.6 |
Uranerz Energ* | URZ | 968 | 1.46 | 1.26 | 1.36 | -4.9 |
Uranium Res* | URRE | 1223 | 0.69 | 0.62 | 0.65 | -4.4 |
Intl Royalty* | ROY | 678 | 6.73 | 6.01 | 6.48 | -2.5 |
U.S. greatest value change | |||
WEEK | |||
VOLUME | CLOSE | CHANGE | |
Rio Tinto* RTP | 5018963 | 203.05 | + 15.47 |
Potash C Sask* POT | 27074164 | 111.60 | + 10.09 |
Agrium* AGU | 2510700 | 64.26 | + 6.49 |
Agnico-Eagle* AEM | 12997745 | 58.13 | + 5.84 |
Cliffs Nat Rs* CLF | 22109616 | 45.87 | + 5.43 |
CONSOL Energy* CNX | 17017803 | 49.36 | + 4.78 |
Freeport McMo* FCX | 88673109 | 73.68 | + 4.48 |
Mosaic* MOS | 20744025 | 58.83 | + 4.29 |
BHP Billi-BHP* BHP | 19985351 | 72.13 | + 4.23 |
Peabody Enrgy* BTU | 28662069 | 44.45 | + 4.00 |
Intl Royalty* ROY | 677870 | 6.48 | -0.17 |
Puda Coal* PUDA | 138400 | 4.90 | -0.11 |
Argentex Mng* AGXM | 336105 | 0.64 | -0.08 |
Uranerz Energ* URZ | 968138 | 1.36 | -0.07 |
Goldfield* GV | 109471 | 0.40 | -0.04 |
Uranium Res* URRE | 1223116 | 0.65 | -0.03 |
New Jersey Mg* NJMC | 95050 | 0.22 | -0.02 |
Affinity Gold* AFYG | 67186 | 1.88 | -0.02 |
Mountain Prov* MDM | 48000 | 2.09 | -0.01 |
El Capitan Pr* ECPN | 167736 | 0.14 | -0.01 |
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