The U. S. economy may be in intensive care, but it showed some vital signs this week with equity markets up in the June 23-29 reporting period. The Dow Jones Industrial Average rose 206.47 points or 2.48% to close at 8,529.38, while the Standard & Poor’s 500 index climbed 32.13 points or 3.59% to 927.23. Miners gained on slightly higher metal prices, while energy stocks got a lift from elevated crude prices. A weaker U. S. dollar made some commodities denominated in the currency more attractive to investors.
Rio Tinto topped the list of gains. The diversified miner vaulted US$16.15 to close at US$168.95 per share. Teck advanced US$1.49 to close at US$16.06 per share despite news on June 24 that measures required to address recently identified geotechnical issues are likely to cut its Highland Valley Copper production by about 35 million lbs. in the second half of the year, and by about 115 million lbs. in 2010.
Alcoa, the most actively traded stock, was up US42¢ to US$10.44 per share on news that its Samara plant in Russia is launching a new high-tech coating line for aluminum sheet used in the packaging market (soft drink and beer cans) and in the building and construction sectors. It also reached an agreement to purchase intellectual property from Nobel for welded aluminium risers used in offshore and oil and gas exploration and development.
In the energy realm, Foundation Coal was up US$4.16 to US$28.67 per share, while Alpha Natural Resources rose US$3.76 to US$26.75 per share. The two companies signed a definitive agreement in May to merge in an all-stock transaction that will create one of North America’s foremost coal producers.
Precious metal stocks also advanced strongly. The Amex Gold Bugs index ascended 21.07 points or 6.35% to 352.82, while the Philadelphia Gold and Silver index edged up 7.26 points or 5.32% to 143.64. The price of gold rose from its June 23 New York close of US$925.80 per oz. to US$937.30 per oz. on June 29.
After Alcoa, Freeport-McMoRan Copper & Gold was the second most actively traded stock, mounting US$5.15 to US$50.33 per share. Agnico-Eagle Mines surged US$5.62 to US$54.49 per share, while Randgold Resources climbed US$4.98 to US$66.63.
| U. S. most active issues | |||||
| VOLUME | WEEK | ||||
| (000s) | HIGH | LOW | CLOSE | CHANGE | |
| Alcoa* AA | 177033 | 10.86 | 9.70 | 10.44 | + 0.42 |
| Freeport McMo*FCX | 89106 | 51.53 | 45.70 | 50.33 | + 5.15 |
| Golden Eagle* MYNG | 77965 | 0.00 | 1.0E8 | 0.00 | 0.00 |
| PotashCSask*POT | 48631 | 96.65 | 87.27 | 95.59 | + 8.32 |
| Teck B* TCK | 44199 | 16.86 | 14.65 | 16.06 | + 1.49 |
| Hecla Mining* HL | 37491 | 3.02 | 2.36 | 2.79 | + 0.39 |
| Barrick Gold* ABX | 36253 | 35.76 | 31.62 | 34.87 | + 3.00 |
| Mosaic* MOS | 34874 | 46.70 | 42.17 | 45.94 | + 3.67 |
| Massey Energy* MEE | 34850 | 20.29 | 17.32 | 19.46 | + 2.20 |
| Goldcorp* GG | 34155 | 37.14 | 32.43 | 36.17 | + 3.59 |
| U. S. greatest percentage change | ||||||
| VOLUME | WEEK | |||||
| (000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Strata O&G* | SOIGF | 1415 | 0.55 | 0.31 | 0.50 | + 61.2 |
| Uranium Star* | URST | 1469 | 0.22 | 0.13 | 0.19 | + 46.1 |
| World Vent* | WVNTF | 20 | 0.06 | 0.04 | 0.04 | + 33.3 |
| Grandview Gld* | GVGDF | 286 | 0.13 | 0.09 | 0.12 | + 33.3 |
| Golden Star* | GSS | 14783 | 2.13 | 1.55 | 2.09 | + 30.6 |
| Paramount Gld* | PZG | 8859 | 1.75 | 1.17 | 1.62 | + 26.5 |
| Eldorado Gold* | EGO | 21868 | 9.62 | 7.68 | 9.45 | + 23.5 |
| North Am En P* | NOA | 392 | 6.24 | 4.75 | 6.13 | + 22.6 |
| Legend Intl H* | LGDI | 1436 | 0.75 | 0.60 | 0.73 | + 21.6 |
| Douglas Lk Ml* | DLKM | 437 | 0.40 | 0.28 | 0.40 | + 21.2 |
| Commerce Grp* | CGCO | 21 | 0.09 | 0.06 | 0.09 | -43.7 |
| Cream Mnrls* | CRMXF | 18 | 0.05 | 0.05 | 0.05 | -37.5 |
| Madison Minls* | MMRSF | 60 | 0.09 | 0.07 | 0.08 | -27.2 |
| Golden Phoen* | GPXM | 5798 | 0.04 | 0.02 | 0.03 | -25.0 |
| Dominion Mnls* | DMNM | 110 | 0.29 | 0.12 | 0.12 | -20.0 |
| Elray Res* | ELRA | 151 | 0.32 | 0.24 | 0.28 | -15.1 |
| Tri-Valley* | TIV | 2532 | 1.18 | 0.93 | 1.01 | -11.4 |
| Canarc Res* | CRCUF | 72 | 0.10 | 0.08 | 0.08 | -11.1 |
| Kimber Res* | KBX | 1013 | 0.60 | 0.40 | 0.51 | -10.5 |
| Shoshone Silv* | SHSH | 73 | 0.10 | 0.09 | 0.09 | -10.0 |
| U. S. greatest value change | ||||
| WEEK | ||||
| VOLUME | CLOSE | CHANGE | ||
| Rio Tinto* | RTP | 4141188 | 168.95 | + 16.15 |
| Potash C Sask* | POT | 48631196 | 95.59 | + 8.32 |
| Agnico-Eagle* | AEM | 12757484 | 54.49 | + 5.62 |
| Freeport McMo* | FCX | 89106110 | 50.33 | + 5.15 |
| Randgold Res* | GOLD | 5071383 | 66.63 | + 4.98 |
| Foundatn Coal* | FCL | 7374339 | 28.67 | + 4.16 |
| Intrepid Pots* | IPI | 1972500 | 28.68 | + 4.04 |
| ASA (Bermuda)* | ASA | 204438 | 63.83 | + 3.82 |
| Alpha Nat Res* | ANR | 21428624 | 26.75 | + 3.76 |
| Mosaic* | MOS | 34873733 | 45.94 | + 3.67 |
| Keegan Res* | KGN | 189500 | 3.02 | -0.13 |
| Tri-Valley* | TIV | 2532286 | 1.01 | -0.13 |
| US Energy* | USEG | 268071 | 2.05 | -0.11 |
| Solitario Res* | XPL | 20223 | 1.90 | -0.10 |
| Commerce Grp* | CGCO | 21400 | 0.09 | -0.07 |
| Intl Royalty* | ROY | 1713537 | 3.21 | -0.07 |
| Kimber Res* | KBX | 1013386 | 0.51 | -0.06 |
| Contintl Mnls* | KMKCF | 238212 | 0.92 | -0.06 |
| PolyMet Mng* | PLM | 999619 | 1.29 | -0.06 |
| Elray Res* | ELRA | 151215 | 0.28 | -0.05 |
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