U.S. Markets July 3-9

United States markets continued an upward trend over the four trading days between July 3 and July 9, with the Dow Jones Industrial Average and the Standard & Poor’s 500 making near-identical advances around 0.8%. The S&P closed July 9 at 1,531.85.

The resource stocks mostly outpaced the market, with about three advancing stocks for each declining one. Gold equity indexes were up significantly; the Philadelphia Gold and Silver Index rose 7.39 points (5.3%) to 146.55, and the Amex Gold Bugs Index 19.37 points (5.7%) to 356.60.

The stronger gold stocks are still well off earlier peaks, except for Minas Buenaventura, which rose another US$1.17 this week to close at US$40.70 and touched a new 52-week high of US$42.07.

Gold Fields touched a 52-week low of US$15.44, but finished the period a quarter higher at US$16.34. AngloGold Ashanti was US$2.63 better at US$41.33.

Coal producers mostly gained; the biggest advance came from Yanzhou Coal, which was up US$13.91 at US$91.24. Alpha Natural Resources and interlisted Fording Canadian Coal Trust both hit 52-week highs.

Alcoa, which was the most active of the base metal stocks, trading 48 million shares, was up US$1.27 at US$42.36. It extended its offer to take over Alcan to Aug. 10; Alcan was up US$4.34 to US$86.95, with a new high at US$88.09.

The blunt multitude seems unusually concordant on what is to come next: BHP Billiton (up US$5.58 to US$67.07, with a new high at US$67.24) will bid for Alcoa, possibly with a private-equity group willing to take over the fabricated products business; meanwhile Rio Tinto (up US$5.10 at US$326.58) prepares a bid for Alcan.

Also traded actively, with 32 million shares moving, Companhia Vale do Rio Doce touched a 52-week high of US$49.00, closing at US$48.58 for a gain of US$2.29. Anglo American was also at a new high, US$32.24, and closed up US$1.61 at US$32.14; Southern Copper finished at US$103.33, up US$4.92, and Freeport-McMoRan Copper & Gold rose US$4.21 to US$88.89.

U.S. greatest percentage change

		VOLUME(000s)	HIGH	LOW	CLOSE		CHANGE
Alberta Star *	ASXSF	631	1.30	0.95	1.29	+	31.6
Geocom Res*	GOCM	190	0.35	0.22	0.30	+	30.4
Madison Minls*	MMRSF	493	0.49	0.36	0.404	+	29.9
Sao Luis Mng*	SAOL	278	0.61	0.42	0.61	+	24.4
Seabridge Gld*	SA	3190	26.90	21.41	26.42	+	21.7
Evolving Gold*	EVOGF	126	0.45	0.37	0.45	+	21.6
Almaden Mnls*	AAU	558	2.80	2.24	2.68	+	19.6
Coral Gold*	CGREF	31	3.50	2.49	3.10	+	19.2
Yanzhou Coal*	YZC	391	91.40	78.66	91.24	+	17.9
Entree Gold*	EGI	1475	3.50	2.71	3.47	+	17.6
Homeland Pr M*	HPMEF	27	0.31	0.21	0.21	–	27.5
McKenzie Bay*	MKBY	717	0.08	0.06	0.062	–	27.0
Northw Min Vt*	NWTMF	880	1.08	0.90	0.909	–	13.4
Halo Res*	HLOSF	24	0.491	0.481	0.481	–	12.5
Global Gold*	GBGD	15	0.80	0.75	0.75	–	11.7
Wealth Minls*	WMLLF	113	3.789	3.441	3.507	–	8.4
Apollo Gold*	AGT	1406	0.522	0.475	0.475	–	8.3
Uranerz Energ*	URZ	1589	5.15	4.60	4.73	–	7.9
Colombia Gldf*	CGDF	601	1.45	1.35	1.355	–	7.1
Dejour Enterp*	DEJ	131	2.29	2.09	2.15	–	6.1

U.S. greatest value change

		VOLUME	CLOSE		CHANGE
Yanzhou Coal*	YZC	391400	91.24	+	13.91
BHP Billi-BHP*	BHP	10372477	67.07	+	5.58
Rio Tinto*	RTP	1212100	326.58	+	5.10
Norilsk Nickl*	NILSY	20717	236.10	+	5.00
Southern Copp*	PCU	6891202	103.33	+	4.92
Seabridge Gld*	SA	3190400	26.42	+	4.71
BHP Billi-BBL*	BBL	635900	62.78	+	4.58
Alcan*	AL	11111325	86.95	+	4.34
Freeport McMo*	FCX	26639276	88.89	+	4.21
Agnico-Eagle*	AEM	9670500	40.64	+	3.48
Soc Quim&M Ch*	SQM	109300	173.57	–	2.58
OM Group*	OMG	1675100	52.80	–	2.30
Potash C Sask*	POT	7251800	80.12	–	0.82
Cabot Corp*	CBT	1726100	47.21	–	0.81
Massey Energy*	MEE	7608903	26.17	–	0.49
Mosaic*	MOS	5370200	39.30	–	0.48
Uranerz Energ*	URZ	1589100	4.73	–	0.41
Wealth Minls*	WMLLF	113050	3.507	–	0.323
Mesabi Trust*	MSB	202900	20.553	–	0.177
APEX Silver*	SIL	1601700	20.57	–	0.15

U.S. most active issues

		VOLUME(000s)	HIGH	LOW	CLOSE		CHANGE
Alcoa*	AA	47904	42.54	40.56	42.36	+	1.27
Coeur d Alene*	CDE	45427	4.18	3.67	4.08	+	0.40
Newmont Mng*	NEM	33612	42.54	39.35	42.00	+	2.11
CVRD*	RIO	31687	49.00	46.05	48.58	+	2.29
Goldcorp*	GG	30933	26.16	24.02	26.01	+	1.72
Freeport McMo*	FCX	26639	90.50	84.94	88.89	+	4.21
Barrick Gold*	ABX	21725	31.46	29.39	31.21	+	1.42
StreetTr Gold*	GLD	19525	65.68	63.88	65.38	+	0.36
Gold Fields*	GFI	17306	16.47	15.44	16.34	+	0.25
Kinross Gold*	KGC	15332	13.29	11.98	13.19	+	1.01