U.S. Markets February 6-12

U.S. equity markets were down marginally over the Feb. 6-12 trading session. The Standard & Poor’s 500 Index fell 3.62 points to 1,443.37 while the NASDAQ lost 20.22 points, closing at 2,450.38 and the Dow Jones Industrial Average was 109.19 points lower at 12,552.55.

The big gold miners were up, with Newmont Mining US63 higher over the week to close at US$45.34, Anglogold Ashanti climbing US90 to US$47.73 and Gold Fields rising US35 to US$17.22.

The big base metals producers saw some losses: Companhia Vale do Rio Doce was down US$1.04 to US$32.98; BHP Billiton gained US$2.83 over the week to close at US$44.01; and Rio Tinto dropped US$2.32 to US$210.43.

The Times of London reported that both BHP and Rio Tinto have drawn up plans to take over Alcoa, one of the world’s largest aluminum producers. Any deal is likely to value Alcoa at more than US$40 billion, outdoing Xstrata’s acquisition of Falconbridge for US$17 billion and CVRD’s US$19-billion takeover of Inco, both last year.

Freeport-McMoRan Copper & Gold’s US$26-billion offer for Phelps Dodge will be voted on by shareholders of both companies next month.

Freeport shares dropped US$1.31 to US$53.25 and Phelps Dodge US19 to US$121.70. Freeport’s offer of US$88.00 per share plus 67% of a Freeport share values Phelps at US$123.68, or US$1.98 less than Phelps Dodge’s current share price.

In 2006, Phelps Dodge earned about US$3.02 billion or US$14.83 per share while Freeport’s net income was US$1.4 billion or US$6.63 per share.

Apex Silver, the majority owner of the San Cristobal silver-zinc-lead project in Bolivia — where a smelter owned by Glencore International was recently expropriated by the government — shed US82 to close at US$13.72 over the week. Metalline Mining was down US50 to US$2.60 on the session, but Mines Management gained US40 to US$6.20.

Coal stocks dropped after gains the previous week. Peabody Energy was down US$1.69 to US$39.88, Arch Coal lost US$1.49 to US$29.73 and Foundation Coal was off US$2.53 at US$31.28.

U.S. greatest percentage change

			VOLUME(000s)	HIGH	LOW	CLOSE		CHANGE
Gemco Mnls*	GMML	25	0.16	0.12	0.16	+	56.8
Global Gold*	GBGD	55	1.15	0.84	1.00	+	53.8
Tornado Gold*	TOGI	154	0.48	0.33	0.48	+	45.4
Golden Eagle*	MYNG	19545	0.014	0.009	0.013	+	44.4
Wealth Minls*	WMLLF	132	2.41	1.799	2.355	+	22.0
El Capitan Pr*	ECPN	1104	1.14	0.90	1.10	+	20.8
Brookmount Ex*	BMXI	112	0.18	0.135	0.16	+	18.5
Lafayette Mng*	LYMGF	173	0.10	0.07	0.07	+	16.6
Claude Res*	CGR	484	1.66	1.38	1.58	+	15.3
Equitable Mng*	EQBM	12431	0.008	0.005	0.008	+	14.2
Geocom Res*	GOCM	316	0.319	0.21	0.22	–	26.6
Kimber Res*	KBX	694	2.10	1.40	1.54	–	26.3
Pine Valley M*	PVMCF	383	0.04	0.031	0.032	–	17.9
Metalline Mng*	MMG	988	3.18	2.52	2.60	–	16.1
Konigsberg*	KGBC	303	0.24	0.19	0.21	–	16.0
Madison Minls*	MMRSF	126	0.74	0.534	0.609	–	15.4
Diamond Discv*	DMDD	145	0.007	0.006	0.006	–	14.2
Radius Gold*	RDUFF	868	0.623	0.498	0.50	–	11.5
Queenstake Rs*	QEE	1311	0.18	0.16	0.16	–	11.1
Idaho Gen Mn*	GMO	163	3.15	2.60	2.70	–	10.6

U.S. greatest value change

		VOLUME	CLOSE		CHANGE
BHP Billi-BHP*	BHP	10992800	44.01	+	2.83
BHP Billi-BBL*	BBL	246500	41.18	+	2.67
Mosaic*	MOS	8658000	22.36	+	2.22
Alcan*	AL	3920000	52.19	+	1.82
OM Group*	OMG	1113700	49.61	+	1.52
Southern Peru*	PCU	5212400	63.41	+	1.36
StreetTr Gold*	GLD	5596200	65.67	+	1.36
Cabot Corp*	CBT	1410400	46.85	+	1.30
Aber Diamond*	ABER	43245	39.90	+	1.14
AngloGold Ash*	AU	3371800	47.73	+	0.90
Soc Quim&M Ch*	SQM	75900	132.05	–	6.20
Foundatn Coal*	FCL	2773500	31.28	–	2.53
Rio Tinto*	RTP	1487000	210.43	–	2.32
Peabody Enrgy*	BTU	10609000	39.88	–	1.69
NACCO Ind*	NC	88400	141.60	–	1.65
Cleveland-Cli*	CLF	1601400	52.85	–	1.57
Cameco Corp*	CCJ	7132400	36.50	–	1.54
Arch Coal*	ACI	8562600	29.73	–	1.49
Pan Am Silver*	PAAS	2510026	27.64	–	1.36
Freeport McMo*	FCX	13056700	53.25	–	1.31

U.S. most active issues

		VOLUME(000s)	HIGH	LOW	CLOSE		CHANGE
Alcoa*	AA	22395	33.20	32.08	32.90	+	0.34
CVRD*	RIO	20226	34.89	32.75	32.98	–	1.04
Golden Eagle*	MYNG	19545	0.014	0.009	0.013	+	0.004
Goldcorp*	GG	18055	29.00	27.18	28.11	+	0.73
Newmont Mng*	NEM	14948	46.63	44.60	45.34	+	0.63
Silverado*	SLGLF	13494	0.10	0.089	0.095	+	0.002
Freeport McMo*	FCX	13057	55.19	52.91	53.25	–	1.31
Equitable Mng*	EQBM	12431	0.008	0.005	0.008	+	0.001
Gold Fields*	GFI	11095	17.65	16.70	17.22	+	0.35
BHP Billi-BHP*	BHP	10993	44.30	41.61	44.01	+	2.83