U.S. Markets August 21-27

A credit crunch stemming from U.S. mortgage losses continued to roil U.S. markets this week and the impact was felt around the world. The European Central Bank, Bank of Japan and Bank of Canada all claimed that the market turmoil could affect their monetary decisions. The release on Aug. 27 of the S&P/Case-Schiller U.S. National Home Price Index, showing the glut of unsold homes rose to a 16-year high, crushed any hope that the home loan crisis was easing.

On Aug. 28, the Conference Board reported consumer confidence weakened sharply in August — the biggest drop since September 2005 in the aftermath of Hurricane Katrina — heightening dread about the fallout from the housing slump. With a housing recession, Americans find it harder to tap housing equity to finance the spending that accounts for the lion’s share of the economy.

Concern that the subprime mortgage rout in the U.S. is spreading and will erode global economic growth has also affected markets in Europe and Asia. On Aug. 28, OPEC Secretary General Abdullah al-Badri said that the subprime crisis in financial markets has made it difficult for the group to gauge demand for crude oil.

The Standard and Poor’s 500 Index finished the Aug. 21-27 trading session up 21.24 points. The Dow Jones Industrial Average added 200.78 points to finish at 13,322.130.

Among the most actively traded stocks during the period were Alcoa, up US$2.66 to US$36.98, and the world’s largest publicly traded copper company, Freeport-McMoRan Copper & Gold, which rose US$5.76 to $85.72. Alcan shares were up US$2.59 to US$97.96 apiece.

Despite economic worries and concerns over housing strength, Rio Tinto experienced the largest value change over the period, surging US$25.58 to US$271.99 per share on trading volume of 22.3 million shares. BHP Billiton rose US$5.49 to US$62.01 and Companhia Vale do Rio Doce climbed US8 to US$48.32.

Other high performers included China’s Yanzhou Coal, with a US$24.75 leap to $93.00 per share, and Southern Copper, which climbed US$12.28 to US$103.62. Cleveland-Cliffs also fared well, adding US$8.57 to close at US$72.69 per share.

U.S. most active issues

VOLUME(000s) HIGH LOW CLOSE CHANGE
CVRD* RIO 79593 49.28 39.44 48.32 +8.00
Alcoa* AA 69401 37.47 34.02 36.98 +2.66
Freeport McMo* FCX 46623 87.89 79.11 85.72 +5.76
Goldcorp* GG 35771 23.60 21.35 22.93 +1.31
Newmont Mng* NEM 30223 41.45 39.50 40.45 +0.57
Coeur d Alene* CDE 25142 3.47 3.26 3.34 -0.11
Barrick Gold* ABX 22639 33.90 31.50 32.13 +0.26
Alcan* AL 19853 98.09 95.45 97.96 +2.59
Gold Fields* GFI 19527 15.22 13.84 14.56 +0.40
Peabody Enrgy* BTU 19444 42.93 39.91 41.43 +0.51

U.S. greatest percentage change

VOLUME(000s) HIGH LOW CLOSE CHANGE
El Capitan Pr* ECPN 1880 0.75 0.42 0.70 +62.7
Uranium Star* URST 427 0.40 0.28 0.40 +37.9
Yanzhou Coal* YZC 614 93.44 70.00 93.00 +36.2
Douglas Lk Ml* DLKM 54 0.41 0.31 0.38 +26.6
Golden Eagle* MYNG 8406 0.017 0.011 0.015 +25.0
Wealth Minls* WMLLF 54 2.90 2.25 2.90 +22.3
Little Squaw* LITS 58 0.90 0.72 0.90 +20.0
CVRD* RIO 79593 49.28 39.44 48.32 +19.8
Cream Mnrls* CRMXF 113 0.49 0.424 0.447 +17.9
Anooraq Res* ANO 3043 3.06 2.60 3.04 +17.3
Apolo Gold* APLL 651 0.049 0.035 0.038 -22.4
HE-5 Res* HRRN 49 0.165 0.13 0.13 -18.7
Geocom Res* GOCM 68 0.21 0.17 0.172 -18.1
New Jersey Mg* NJMC 178 0.45 0.34 0.37 -17.7
Global Gold* GBGD 55 0.75 0.595 0.595 -15.0
Evolving Gold* EVOGF 46 0.42 0.30 0.30 -14.2
Bullion Rvr G* BLRV 1735 0.389 0.265 0.34 -12.6
Cusac Gold Mn* CUSIF 235 0.165 0.128 0.155 -11.4
AmMex Gold* AMXG 151 0.32 0.26 0.29 -9.3
Seabridge Gld* SA 3911 26.15 21.01 22.43 -9.3

U.S. greatest value change

WEEK VOLUME CLOSE CHANGE
Rio Tinto* RTP 2239300 271.99 +25.58
Yanzhou Coal* YZC 614300 93.00 +24.75
Southern Copp* PCU 12560273 103.62 +12.28
Cleveland-Cli* CLF 7637389 72.69 +8.57
CVRD* RIO 79593075 48.32 +8.00
Potash C Sask* POT 11418350 85.77 +6.61
Freeport McMo* FCX 46622642 85.72 +5.76
BHP Billi-BHP* BHP 18322842 62.01 +5.49
BHP Billi-BBL* BBL 875300 56.52 +5.15
Agrium* AGU 3361700 44.54 +5.01
Royal Gold* RGLD 2561844 26.79 -2.71
Seabridge Gld* SA 3911300 22.43 -2.30
Arch Coal* ACI 14095474 29.90 -0.58
Minefinders* MFN 779870 8.71 -0.46
APEX Silver* SIL 1241700 17.27 -0.44
Tanz Roy Exp* TRE 1719800 4.86 -0.40
Metallica Res* MRB 554900 3.58 -0.28
Allied Nevada* ANV 132400 4.05 -0.27
US Gold* UXG 52900 5.90 -0.25
Banro Res* BAA 29400 10.00 -0.18
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