U.S. Markets Dec. 18-19

Stock prices rose modestly during the abbreviated Dec. 18-19 trading session, despite anxieties over the economy and in particular about credit conditions. Reuters reported that the overall commercial paper market in the U.S. contracted US$54.7 billion to a total of US$1.784 trillion outstanding in the week ended Dec. 19. That was the “biggest weekly shrinkage since late August,” the news agency said.

The Dow Jones Industrial Average inched up 40.07 points to close at 13,207.27 over the 2-day pre-Christmas period, while the Standard & Poor’s 500 Index climbed 7.1 points to close at 1,453 points.

Gold finished the session at US$800.60 per oz. on Dec. 19, up from its US$794.50 per oz. close on Dec. 17. The Amex Gold Bugs Index lifted 4.68 points to 379.59 and the Philadelphia Gold and Silver Index gained 1.92 points to close at 161.08.

Gold miners didn’t move much in either direction during this shortened trading session. Toronto-based Barrick Gold rose US18 to US$37.57, Newmont Mining climbed US68 to US$47.28, and Kinross Gold rose US26 to US$16.34.

Coeur d’Alene Mines fell US4 to US$4.04, while Goldcorp slid US32 to US$30.87. Earlier this month, Goldcorp said it would accelerate the development of its Penasquito mine, in Mexico, and incorporate into its plans a 30% higher throughput at the mill.

The energy sector continued to make strong gains. China’s largest listed coal firm, Yanzhou Coal Mining, rose US$3.94 to US$93.50. Based in northeastern Shandong province, the company is a leader in coal production in eastern China. Foundation Coal Holdings, meanwhile, a major U.S. coal producer with 13 mines in Wyoming, Pennsylvania and West Virginia, climbed US$2.62 to US$49.56.

Consol Energy, a multi-energy producer of coal, gas and electricity, rose US$2.29 to US$68.04. Consol produces high-BTU coal and gas from reserves mainly east of the Mississippi River. Peabody Energy, the world’s largest private-sector coal company with 2006 sales of 248 million tons of coal and US$5.3 billion in revenues, also fared well. It climbed US$2.10 to US$59.89.

The markets weren’t kind to companies focused on the chemical manufacturing of fertilizers and feed products. Mosaic Co., one of the largest fertilizer producers in the U.S., dropped US$2.18 to US$82.31, while Saskatoon-based Potash Corp. of Saskatchewan, continued its recent downward spiral from the previous trading session, falling a further US$2.55 to US$123.85. Agrium slipped US37 to US$58.05.

U.S. greatest percentage change

		VOLUME(000s)	HIGH	LOW	CLOSE		CHANGE
McKenzie Bay*	MKBY	1377	0.015	0.006	0.01	+	400.0
Trend Mng*	TRDM	411	0.025	0.015	0.02	+	33.3
Alberta Star *	ASXSF	1068	0.47	0.35	0.464	+	32.5
HE-5 Res*	HRRN	78	0.085	0.05	0.07	+	27.2
Commerce Grp*	CGCO	116	0.175	0.12	0.175	+	16.6
El Capitan Pr*	ECPN	931	0.42	0.30	0.36	+	16.1
Beeston Ent*	BESE	130	0.21	0.14	0.17	+	13.3
Uranerz Energ*	URZ	554	2.85	2.40	2.81	+	11.5
Idaho Gen Mn*	GMO	1599	10.97	9.75	10.65	+	10.9
Fronteer Dev*	FRG	700	9.45	8.47	9.26	+	8.8
Sparrowtech R*	SPMC	360	0.015	0.015	0.015	–	51.6
World Vent*	WVNTF	24	0.08	0.05	0.055	–	31.2
Raven Gold*	RVNG	225	0.75	0.51	0.645	–	16.2
Silver Dragon*	SDRG	218	0.77	0.62	0.65	–	15.5
Little Squaw*	LITS	16	0.82	0.73	0.73	–	14.1
Sao Luis Mng*	SAOL	23	0.15	0.12	0.13	–	13.3
Clifton Mng*	CFTN	102	0.29	0.25	0.26	–	13.3
Rubicon Mnls*	RBY	826	1.27	1.10	1.11	–	13.2
Colombia Gldf*	CGDF	105	1.17	1.03	1.03	–	11.2
Cusac Gold Mn*	CUSIF	301	0.105	0.07	0.08	–	11.1

U.S. greatest value change

		VOLUME	CLOSE	CHANGE
Rio Tinto*	RTP	630246	409.50	+	8.05
Yanzhou Coal*	YZC	138671	93.50	+	3.94
Freeport McMo*	FCX	22875373	98.36	+	3.45
Foundatn Coal*	FCL	1247900	49.56	+	2.62
Agnico-Eagle*	AEM	3385165	48.27	+	2.37
Soc Quim&M Ch*	SQM	80902	163.82	+	2.32
CONSOL Energy*	CNX	5832403	68.04	+	2.29
Peabody Enrgy*	BTU	5734734	59.89	+	2.10
Cleveland-Cli*	CLF	2010700	95.90	+	1.99
Buenaventura*	BVN	1042525	52.70	+	1.70
Potash C Sask*	POT	7429013	123.85	–	2.55
Mosaic*	MOS	6533143	82.31	–	2.18
ASA (Bermuda)*	ASA	122100	69.03	–	1.71
Mesabi Trust*	MSB	111000	20.50	–	0.95
Banro Res*	BAA	74100	9.16	–	0.74
AngloGold Ash*	AU	2293115	40.71	–	0.69
Anglo Americn*	AAUK	2007595	29.23	–	0.43
Alexco Res*	AXU	140900	3.81	–	0.37
Agrium*	AGU	2714400	58.05	–	0.37
Goldcorp*	GG	12209496	30.87	–	0.32

U.S. most active issues

		VOLUME(000s)	HIGH	LOW	CLOSE		CHANGE
Vale*	RIO	34137	32.50	30.62	31.93	+	0.87
Freeport McMo*	FCX	22875	100.50	92.88	98.36	+	3.45
Alcoa*	AA	17285	34.95	33.22	34.49	+	0.59
Goldcorp*	GG	12209	32.00	30.15	30.87	–	0.32
Coeur d Alene*	CDE	11410	4.18	3.98	4.04	–	0.04
NovaGold Res*	NG	11282	7.54	5.87	7.39	+	0.36
Barrick Gold*	ABX	11137	38.48	37.08	37.57	+	0.18
Gold Fields*	GFI	10324	14.57	14.07	14.27	–	0.03
Newmont Mng*	NEM	10069	48.13	46.25	47.28	+	0.68
Kinross Gold*	KGC	7689	16.86	15.92	16.34	+	0.26