U.S. Markets Oct. 31-Nov. 6

As investors braced for the outcome of mid-term elections, the Dow Jones Industrial Average was once again nudging record territory after rising to 12,105.55 during the Oct. 31-Nov. 6 trading session.

The broad market S&P-500 also edged higher over the week, closing at 1,379.78, up nearly two points.

Market analysts said U.S. stocks jumped on speculation that the elections will leave Congress gridlocked, stalling new regulations and other government initiatives. This is expected to be good for shareholders in the near term.

Not surprisingly, Goldcorp was among the most-active stocks, following news that the company has completed its US$8.6-billion purchase of Glamis Gold. It closed up US76 at US$26.16, ranking among the volume leaders after almost 27.8 million shares changed hands in New York.

Brazilian mining giant Companhia Vale do Rio Doce saw almost 22 million shares change hands throughout the week as investors continued to mull the impact of its acquisition of Inco. CVRD closed up US$2.18 at US$27.10 per share.

Meanwhile, Arizona Star Resource found itself in the spotlight amid news of Kinross Gold’s bid to acquire Bema Gold in a friendly all-share transaction worth C$3.5 billion. Arizona’s key asset — a 51% stake in Bema’s Cerro Casale gold-copper deposit, in northern Chile — has made the company a target of takeover speculation, sending its stock up US$2.33 to US$12.08 per share on the AMEX.

Among U.S. gold stocks, Denver, Colo.-based Newmont Mining rose US$1.34 to US$45.84 per share on strong third-quarter earnings and rising bullion prices. The company posted a US$198-million profit for the quarter, up 57% over the same period last year.

Copper mining giant Phelps Dodge also closed the week in higher territory at US$101.73 per share, up US$3.71, despite a sluggish week for the red metal.

Copper found itself overshadowed as the price of zinc hit another high; the metal touched more than US$4,500 a tonne on the London Metal Exchange as copper stockpiles in LME-registered warehouses dropped below 100,000 tonnes for the first time in 15 years.

U.S. greatest percentage change

		VOLUME(000s)	HIGH	LOW	CLOSE	CHANGE
Diamond Discv*	DMDD	6426	0.012	0.005	0.012	+140.0
Goldspring*	GSPG	45536	0.008	0.006	0.008	+60.0
Campbell Res*	CBLRF	3317	0.115	0.068	0.113	+56.9
Metalline Mng*	MMGG	2288	3.63	2.42	3.63	+51.2
McKenzie Bay*	MKBY	2335	0.19	0.10	0.18	+50.0
Silverado*	SLGLF	26834	0.083	0.052	0.08	+40.3
Radius Gold*	RDUFF	759	0.52	0.323	0.46	+35.2
Golden Eagle*	MYNG	3867	0.013	0.01	0.012	+33.3
Cream Mnrls*	CRMXF	24	0.60	0.413	0.54	+32.6
Birch Mountn*	BMD	1682	4.49	3.42	4.32	+25.2
Puda Coal*	PUDC	380	4.35	2.75	2.93	-32.4
Sao Luis Mng*	SAOL	810	1.01	0.63	0.70	-31.3
Commerce Grp*	CGCO	70	0.12	0.07	0.07	-30.0
NT Holding*	NTHH	190	0.35	0.19	0.25	-28.5
Liberty Star*	LBTS	2896	1.149	0.80	0.81	-27.6
Trend Mng*	TRDM	395	0.10	0.08	0.081	-19.0
Apollo Gold*	AGT	825	0.39	0.31	0.32	-15.7
Mayfair Mg&Ml*	MFMM	56	0.65	0.52	0.55	-15.3
Konigsberg*	KGBC	681	0.17	0.13	0.14	-14.6
Fording C C T*	FDG	9027	25.71	20.51	21.57	-14.1

U.S. greatest value change

		VOLUME	CLOSE	CHANGE
Potash C Sask*	POT	6158600	138.10	+10.92
Rio Tinto*	RTP	1486300	227.19	+10.33
Southern Peru*	PCU	8000900	55.78	+5.21
Soc Quim&M Ch*	SQM	113800	126.05	+4.77
Phelps Dodge*	PD	12801900	101.73	+3.61
Cabot Corp*	CBT	3488900	42.13	+2.58
Glamis Gold*	GLG	4220400	45.07	+2.42
Arizona Star*	AZS	214400	12.08	+2.33
CVRD*	RIO	21822700	27.10	+2.18
Freeport McMo*	FCX	12114900	61.33	+2.13
OM Group*	OMG	3876800	51.06	-6.52
Fording C C T*	FDG	9026900	21.57	-3.55
Puda Coal*	PUDC	379812	2.93	-1.41
Westmoreland*	WLB	33500	22.12	-1.29
Mesabi Trust*	MSB	209900	22.06	-1.01
Vista Gold*	VGZ	1183700	8.55	-0.93
Kinross Gold*	KGC	10212700	12.01	-0.79
Alumina Inc*	AWC	237700	20.28	-0.73
Cameco Corp*	CCJ	9154100	34.25	-0.58
Mines Managem*	MGN	116100	5.61	-0.49

U.S. most active issues

		VOLUME(000s)	HIGH	LOW	CLOSE	CHANGE
AuGrid*	AUGC	1275482	0.00	1.0E8	0.00	0.00
Goldspring*	GSPG	45536	0.008	0.006	0.008	+0.003
Goldcorp*	GG	27780	27.31	25.15	26.16	+0.76
Silverado*	SLGLF	26834	0.083	0.052	0.08	+0.023
Newmont Mng*	NEM	22410	46.89	44.40	45.84	+1.34
CVRD*	RIO	21823	27.19	25.02	27.10	+2.18
Alcoa*	AA	20787	29.09	28.00	28.82	+0.71
Bema Gold*	BGO	17273	5.34	4.24	5.27	+0.99
Barrick Gold*	ABX	16368	31.63	29.97	29.99	-0.25
Phelps Dodge*	PD	12802	102.98	95.75	101.73	+3.61