U.S. stock markets fell during the period March 16-21. The S&P 500 index ended the period 13.97 points lower at 1,183.78 points, while the Dow Jones industrial average fell 179.71 points to close at 10,565.39 points.
US Energy led the way in volume, trading 17.8 million shares and rising US$3.45, or 82%, to close at US$7.65. The company and its joint-venture partner, Crested Corp., intend to reopen and operate the Shootaring Canyon uranium mill in Utah.
Alcoa traded 14.9 million shares and fell US13 to US$31.46. The company plans to cut a total of 2,000 jobs this year. In addition, Alcoa is tendering its 46.5% stake in Elkem to Orkla for US$870 million.
Newmont Mining was down US$1.60 to US$43.52 on a volume of 11.7 million shares. The company announced an offering of US$600 million worth of of 30-year 5.875% notes, which are due in 2035. Some of the proceeds will be used to fund a 200-MW power plant in Nevada.
Kerr McGee was up US$3.05 to close at US$81.73, with close to 10 million shares traded. The rise reflects expectations of first-quarter results. In the fourth quarter of 2004, the company earned US$133.8 million.
CVRD gained US89 to close at US$33 after signing a US$2-billion contract to market iron ore from CSN’s Casa de Pedra mine in Brazil.
After rising 24% last week, Andresmin Gold, which trades over the counter, fell US26, or 26%, to US71, while 6.3 million shares changed hands. The company reported sampling results from its Maikol project in Peru, highlighted by 0.67% copper over 10 metres.
Be the first to comment on "High Energy fuels trading"