US markets

The Dow Jones Industrial Average surpassed the 13,000 level for the first time since early May, rallying 253 points to end the week up 2% at 13,075.66.

This upward trend was seen in other major indexes during the period. The S&P 500 Index gained 23 points, or 1.7% to close at 1,385.97, and the Nasdaq Composite Index rose 32 points, or 1.1% to 2,958.09. The gold spot price rose US$39.60 per oz. to end at US$1,623.60.

During the week investors speculated that the European Central Bank would buy bonds to ease borrowing costs, and took in the economic data coming from the U.S. In second-quarter 2012 the U.S. economy slowed to a tepid 1.5%. While slightly better than expected, this is below the first quarter’s 2% rate.

A report shows consumer sentiment in July fell to its lowest level since last December. Thomson Reuters’ and University of Michigan’s final reading on the overall index on consumer sentiment sank to 72.3 from 73.2 in June.

Arch Coal advanced 26% to US$6.80 per share after reporting mixed second-quarter results. The coal producer saw a net loss of US$436 million, or US$2.05 per diluted share. Its adjusted net loss was US$22 million, or US10¢ per diluted share, down from the profit of US$76.6 million, or US44¢ per diluted share a year ago. However, for the six months ended June 30, revenues increased 13% to US$2.1 billion. Year-to-date export volumes more than doubled to 7 million tons despite an 8% year-over-year drop in first-half sale volumes. Arch Coal was also the third most traded stock of the week, with 83 million shares traded.

Following an updated resource and reserves estimate at its 60%-owned Bisha mine in Eritrea, Nevsun Resources jumped 21% to US$3.74 per share. Total contained copper and zinc reserves grew 6% and 38%, respectively.

The week’s largest value gainer was Randgold Resources, adding US$5.39 per share to end at US$91.35. The company says it has started open-pit mining at the sizeable Kibali gold project in the Democratic Republic of the Congo. First production is expected in late 2013.

U.S most active issues

Volume Week
    (000s) High Low Close Change
Alcoa AA 92308 8.52 7.97 8.45 +0.31
Freeport McMo* FCX 84203 33.84 33.84 33.47 +0.64
Arch Coal* ACI 83023 6.92 6.92 6.80 +1.42
Alpha Nat Res* ANR 67934 7.10 7.10 7.02 +0.98
Peabody Enrgy* BTU 56630 23.31 23.31 20.80 +0.83
Barrick Gold* ABX 56232 34.47 34.47 32.35 -1.72
NovaGold Res* NG 41000 5.57 5.57 4.00 -1.45
Kinross Gold* KGC 34413 8.61 8.61 8.46 +0.57
Cliffs Nat Rs* CLF 33267 44.94 44.94 39.39 -4.95
Potash C Sask* POT 28130 46.16 46.16 45.59 +0.85

U.S greatest percentage change

  Volume Week
(000s) High Low Close Change
Linux Gold* LNXGF 29 0.04 0.02 0.04 +135.2
Habanero Res* HBNRF 10 0.04 0.04 0.04 +33.3
Golden Phoen* GPXM 1934 0.02 0.01 0.02 +33.3
Atlatsa Res* ATL 120 0.18 0.14 0.17 +27.8
Arch Coal* ACI 83023 6.92 5.16 6.80 +26.3
Silver Dragon* SDRG 1953 0.01 0.00 0.01 +25.0
Nevsun Res* NSU 2896 3.99 2.84 3.74 +20.6
Timmins Gold* TGD 185 1.89 1.60 1.89 +16.6
Ur-Energy* URG 382 0.80 0.64 0.79 +16.5
PolyMet Mng* PLM 565 1.14 0.96 1.14 +16.3
Elray Res* ELRA 16904 0.01 0.00 0.00 -33.3
NovaGold Res* NG 41000 5.57 3.61 4.00 -26.6
Oromin Expl* OLEPF 38 0.56 0.47 0.47 -15.5
Cliffs Nat Rs* CLF 33267 44.94 36.06 39.39 -11.1
Lake Vict Mng* LVCA 12 0.09 0.08 0.08 -11.1
Western Coppr* WRN 72 0.66 0.59 0.61 -10.2
Canarc Res* CRCUF 91 0.13 0.11 0.12 -10.1
Geovic Mng* GVCM 44 0.12 0.10 0.11 -8.3
Samex Mng* SMXMF 266 0.24 0.22 0.23 -7.2
Uranium Ener* UEC 372 1.96 1.75 1.79 -7.2

U.S greatest value change

  Volume Close Change
Randgold Res* GOLD 1847005 91.35 +5.39
Agnico-Eagle* AEM 13732749 43.16 +4.75
Franco-Nevada* FNV 1030884 49.17 +3.65
BHP Billi-BHP* BHP 21432850 66.99 +3.31
AngloGold Ash* AU 9661430 34.76 +2.91
BHP Billi-BBL* BBL 3653791 59.04 +2.87
Agrium* AGU 928346 96.79 +2.76
Goldcorp* GG 25219047 36.25 +2.56
Mosaic* MOS 19036632 58.73 +1.76
Rio Tinto* RIO 2448147 46.17 +1.62
Cliffs Nat Rs* CLF 33267373 39.39 -4.95
Barrick Gold* ABX 56231650 32.35 -1.72
NovaGold Res* NF 40999819 4.00 -1.45
Compass Mnls* CMP 453219 74.14 -1.36
Teck Res B* TCK 14018796 28.50 -1.16
Molycorp* MCP 11483225 17.38 -1.12
Mesabi Trust* MSB 419774 25.49 -1.07
OM Group* OMG 1611882 15.55 -1.05
Allied Nevada* ANV 333834 25.43 -0.49
Newmont Mng* NEM 28106171 44.53 -0.46
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