Stock markets in the United States inched upwards over the March 31-April 5 trading period. The Dow Jones industrial average rose 0.4%, or 44.59 points, to close at 10,952.01 points, while the S&P 500 index gained 1.1%, or 12.92 points, finishing the period at 1,186.19 points. Meanwhile, the Nasdaq closed 0.6% higher, rising 14.59 points, at 2,425.28.
In the news, top U.S. coal miner Peabody Energy has sweetened its bid for a controlling interest in Australia’s Macarthur Coal to A$14 per share, or A$3.6 billion, from A$13 per share.
Peabody is trying to stop Macarthur’s plan to take over smaller rival Gloucester Coal. The Macarthur-Gloucester deal would give Hong Kong-based commodities firm Noble Group a 24.6% stake in Macarthur for a much lower price. Macarthur, which is the world’s biggest exporter of pulverized coal, says it’s considering Peabody’s offer but told shareholders to hold their shares for the time being. Peabody was one of the most actively traded shares over the period with 25.5 million shares changing hands, causing the share prices to slip US5¢ to US$46.02 per share.
The other most actively traded stocks south of the border were Alcoa with a trading volume of 109.9 million shares pushing the stock up US29¢ to US$14.73; Freeport-McMoRan Copper & Gold shares rose US$4.45 to US$87.33 apiece on a trading volume of 46.9 million shares; and Hecla Mining shares were up US48¢ to US$5.90 on a trading volume of 33.9 million shares.
Alcoa reported that it expects to record US$260 million in first quarter charges related to the permanent closures of its Eastalco smelter in Frederick, Md., and its smelter in Badin, N.C., and smaller parts of existing facilities as well as a non-cash charge as a result of the United States’ new health care law.
Rio Tinto shares increased the most by value over the period, rising US$7.38 to US$246.22. Next was Lihir Gold, up US$7.38 per share to $36.08 -an increase of 25.7%.
Lihir has rejected a takeover offer from Newcrest Mining that values the company at A$9.2 billion. Lihir management say they see the value of the two companies merging but the offer does not give a significant enough premium.
U.S. most active issues | ||||
VOLUME | WEEK | |||
(000s) HIGH | LOW | CLOSE | CHANGE | |
Alcoa* AA | 109897 14.81 | 14.22 | 14.73 | + 0.29 |
Freeport McMo*FCX | 46877 87.87 | 83.01 | 87.33 | + 4.45 |
Silverado* SLGLF | 45751 0.01 | 0.01 | 0.01 | 0.00 |
Hecla Mining* HL | 33857 5.92 | 5.35 | 5.90 | + 0.48 |
CONSOL Engy* CNX | 33327 45.33 | 41.81 | 45.27 | + 2.61 |
Goldcorp* GG | 32526 39.28 | 36.63 | 38.75 | + 1.24 |
Barrick Gold* ABX | 30781 39.90 | 37.41 | 39.65 | + 1.84 |
Newmont Mng* NEM | 25681 53.98 | 50.29 | 53.81 | + 3.44 |
Peabody Enrgy* BTU | 25491 46.65 | 44.94 | 46.02 | -0.05 |
Potash C Sask* POT | 23270 121.91 | 114.91 | 115.71 | -4.82 |
U.S. greatest percentage change | |||||
VOLUME | WEEK | ||||
(000s) HIGH | LOW | CLOSE | CHANGE | ||
El Capitan Pr* | ECPN | 4115 0.76 | 0.20 | 0.60 | +215.7 |
Crystallex In* | KRY | 5832 0.49 | 0.31 | 0.48 | + 45.4 |
America West* | AWSR | 52 0.14 | 0.12 | 0.14 | + 27.2 |
Lihir Gold* | LIHR | 5459 36.76 | 27.79 | 36.08 | + 25.7 |
Tombstone Exp* | TMBXF | 313 0.11 | 0.09 | 0.11 | + 22.2 |
North Am En P* | NOA | 350 10.53 | 8.73 | 10.29 | + 18.9 |
Metalline Mng* | MMG | 647 1.22 | 0.95 | 1.19 | + 16.6 |
PlatinumGpM* | PLG | 118 2.15 | 1.83 | 2.13 | + 16.3 |
Oromin Expl* | OLEPF | 302 0.79 | 0.57 | 0.73 | + 15.8 |
Intl Tower Hi* | THM | 404 6.80 | 5.75 | 6.71 | + 15.0 |
Aurelio Res* | AULO | 395 0.01 | 0.01 | 0.01 | -50.0 |
SinoCoking Cl* | SCOK | 141 33.50 | 25.17 | 26.83 | -19.8 |
Cream Mnrls* | CRMXF | 50 0.11 | 0.09 | 0.09 | -18.1 |
New Jersey Mg* | NJMC | 35 0.28 | 0.25 | 0.25 | -13.7 |
Bullion Monar* | BULM | 94 0.76 | 0.70 | 0.71 | -10.1 |
DouglasLkMl* | DLKM | 262 0.24 | 0.21 | 0.21 | -8.7 |
Patriot Gold* | PGOL | 94 0.35 | 0.28 | 0.28 | -6.6 |
Affinity Gold* | AFYG | 458 0.34 | 0.26 | 0.29 | -6.4 |
Midway Gold* | MDW | 71 0.65 | 0.59 | 0.62 | -4.6 |
Potash C Sask* | POT | 23270121.91 | 114.91 | 115.71 | -4.0 |
U.S. greatest value change | |||
WEEK | |||
VOLUME | CLOSE | CHANGE | |
Rio Tinto* RTP | 2446165 | 246.22 | + 10.62 |
Lihir Gold* LIHR | 5458622 | 36.08 | + 7.38 |
Randgold Res* GOLD | 3148602 | 80.62 | + 6.01 |
Freeport McMo* FCX | 46877060 | 87.33 | + 4.45 |
Royal Gold* RGLD | 2640749 | 50.08 | + 3.94 |
ASA (Bermuda)* ASA | 110496 | 77.92 | + 3.87 |
Teck B* TCK | 18281183 | 46.05 | + 3.73 |
Newmont Mng* NEM | 25680546 | 53.81 | + 3.44 |
CONSOL Energy* CNX | 33326873 | 45.27 | + 2.61 |
Alpha Nat Res* ANR | 13655735 | 53.09 | + 2.47 |
SinoCoking Cl* SCOK | 141257 | 26.83 | -6.66 |
Potash C Sask* POT | 23270204 | 115.71 | -4.82 |
Mosaic* MOS | 22829290 | 57.99 | -2.23 |
Natural Rs Pt* NRP | 1533300 | 25.24 | -0.69 |
Cameco Corp* CCJ | 9181223 | 27.07 | -0.29 |
Bullion Monar* BULM | 94225 | 0.71 | -0.08 |
Peabody Enrgy* BTU | 25491166 | 46.02 | -0. 05 |
New Jersey Mg* NJMC | 34700 | 0.25 | -0.04 |
Midway Gold* MDW | 70700 | 0.62 | -0.03 |
Legend Intl H* LGDI | 387555 | 1.12 | -0.03 |
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