Encouraging employment news, accelerating activity in the services sector and the Federal Reserve’s ongoing pledge to keep interest rates historically low, helped maintain the upwards momentum in the U.S. markets, albeit, slightly.
The Dow Jones industrial average gained 32.42 points over the April 6-12 trading period to close at 11,005.97. The S&P 500 index rose 9.04 points to close at 1,187.44 and the Nasdaq added 28.24 points to finish the period at 2,457.87 points.
Alcoa was the most actively traded stock yet again with 207.8 million shares traded. The stock fell US16¢ to close at US$14.57. The aluminum maker posted a first quarter loss that was narrower than expected at US$201 million (US20¢ per share) instead of US$260 million. The results also showed a marked improvement from the first quarter of 2009 when Alcoa reported a loss of US$497 million. The large loss was due to one-time charges related to closing two smelters and the U.S. health care reform, but the company noted that markets seem to be improving and the outlook for aluminum was positive.
An explosion at a West Virginia coal mine that killed 29 people on April 5 put Massey Energy shares in the no. 2 spot with 109.3 million shares traded. The stock was the top loser over the period, falling US$8.66 to close at US$46.03 apiece. Federal and state inspectors are now beginning an investigation into the explosion. Some investor groups are calling for the head of Massey Energy to resign, accusing the company of not valuing the safety of its employees.
Rio Tinto and Freeport-McMoRan Copper & Gold were among the top losers over the period. Rio Tinto shares fell US$3.64 apiece to close at US4$242.58, while Freeport shares dropped US$2.93 to US$84.40.
Metalline Mining, which has a project in Coahuila, Mexico, saw its shares rise 22.6% over the trading period to US$1.46 apiece.
The company is soon holding a shareholder meeting to present several proposals including the approval of the issuance of its shares so it can complete a merger with Dome Ventures. Dome has gold, manganese and iron ore projects in Gabon, West Africa.
| U.S. most active issues | |||||
| VOLUME | WEEK | ||||
| (000s) | HIGH | LOW | CLOSE | CHANGE | |
| Alcoa* AA | 207829 | 15.15 | 14.19 | 14.57 | -0.16 |
| Massey Energy* MEE | 109348 | 50.48 | 44.50 | 46.03 | -8.66 |
| Freeport McMo*FCX | 54812 | 88.30 | 84.02 | 84.40 | -2.93 |
| Barrick Gold* ABX | 50732 | 41.85 | 39.28 | 40.76 | + 1.11 |
| Hecla Mining* HL | 48536 | 6.20 | 5.80 | 5.95 | + 0.05 |
| Goldcorp* GG | 40607 | 40.99 | 38.20 | 40.06 | + 1.31 |
| Newmont Mng* NEM | 35109 | 54.82 | 53.10 | 53.55 | -0.26 |
| Peabody Enrgy* BTU | 34392 | 48.63 | 45.62 | 48.01 | + 1.99 |
| Consol Energy* CNX | 33933 | 46.94 | 44.00 | 46.26 | + 0.99 |
| Arch Coal* ACI | 33041 | 26.57 | 24.26 | 26.12 | + 1.63 |
| U.S. greatest percentage change | ||||||
| VOLUME | WEEK | |||||
| (000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Yellowcake Mg* | YCKM | 53 | 0.04 | 0.03 | 0.04 | + 33.3 |
| Tombstone Exp* | TMBXF | 1013 | 0.14 | 0.11 | 0.14 | + 27.2 |
| Silver Dragon* | SDRG | 763 | 0.36 | 0.27 | 0.35 | + 25.0 |
| Metalline Mng* | MMG | 283 | 1.59 | 1.18 | 1.46 | + 22.6 |
| Almaden Mnls* | AAU | 1932 | 1.22 | 0.99 | 1.18 | + 20.4 |
| Minera Andes* | MNEAF | 1754 | 1.12 | 0.93 | 1.10 | + 18.2 |
| Exeter Res* | XRA | 932 | 8.30 | 6.59 | 7.86 | + 18.0 |
| Samex Mng* | SMXMF | 347 | 0.36 | 0.26 | 0.34 | + 17.2 |
| Alberta Star * | ASXSF | 92 | 0.64 | 0.53 | 0.62 | + 16.9 |
| Caledonia Mng* | CALVF | 2440 | 0.08 | 0.06 | 0.07 | + 16.6 |
| Tri-Valley* | TIV | 7398 | 1.94 | 1.31 | 1.31 | -39.0 |
| El Capitan Pr* | ECPN | 3395 | 0.64 | 0.25 | 0.40 | -33.3 |
| Affinity Gold* | AFYG | 822 | 0.33 | 0.16 | 0.21 | -30.0 |
| Elray Res* | ELRA | 621 | 0.25 | 0.15 | 0.16 | -20.0 |
| Crystallex In* | KRY | 2926 | 0.49 | 0.38 | 0.39 | -18.7 |
| Massey Energy* | MEE | 109348 | 50.48 | 44.50 | 46.03 | -15.8 |
| America West* | AWSR | 73 | 0.13 | 0.12 | 0.12 | -14.2 |
| Madison Minls* | MMRSF | 39 | 0.12 | 0.10 | 0.12 | -14.2 |
| Mesabi Trust* | MSB | 1526 | 27.22 | 22.14 | 23.50 | -10.2 |
| Strata O&G* | SOIGF | 270 | 0.40 | 0.35 | 0.36 | -10.0 |
| U.S. greatest value change | ||||
| WEEK | ||||
| VOLUME | CLOSE | CHANGE | ||
| ASA (Bermuda)* | ASA | 181817 | 81.58 | + 3.66 |
| Seabridge Gld* | SA | 2946388 | 28.20 | + 2.38 |
| AlumCpChina* | ACH | 982200 | 28.58 | + 2.14 |
| Agnico-Eagle* | AEM | 12475936 | 60.39 | + 2.02 |
| Peabody Enrgy* | BTU | 34392119 | 48.01 | + 1.99 |
| Arch Coal* | ACI | 33040606 | 26.12 | + 1.63 |
| Eldorado Gold* | EGO | 4319000 | 14.00 | + 1.40 |
| Goldcorp* | GG | 40606945 | 40.06 | + 1.31 |
| Ivanhoe Mines* | IVN | 10253448 | 18.55 | + 1.26 |
| Royal Gold* | RGLD | 3289475 | 51.33 | + 1.25 |
| Massey Energy* | MEE | 109348402 | 46.03 | -8.66 |
| Rio Tinto* | RTP | 2926648 | 242.58 | -3.64 |
| Fr eeport McMo* |
FCX | 54812130 | 84.40 | -2.93 |
| Mesabi Trust* | MSB | 1525953 | 23.50 | -2.69 |
| Agrium* | AGU | 1678500 | 68.35 | -2.56 |
| Compass Mnls* | CMP | 479900 | 77.84 | -2.38 |
| Potash C Sask* | POT | 29583399 | 114.21 | -1.50 |
| Mosaic* | MOS | 19129405 | 56.75 | -1.24 |
| BHP Billi-BHP* | BHP | 16452372 | 81.82 | -1.04 |
| BHP Billi-BBL* | BBL | 6507666 | 69.95 | -0.95 |
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