Equity markets in the United States went into a tailspin during the reporting period June 6-12, with the Dow Jones Industrial Average falling 256.14 points to 10,792.58, and the Standard & Poor’s 500 index falling 28.89 points to 1,236.40. The declines wiped out all the gains the indexes had made since mid-November 2005.
General weakness in the markets was bad for all the commodity producers, although the gold producers probably took worse punishment. AngloGold Ashanti was down US$6.04 at US$40.03 — a 10% loss — and Gold Fields fell US$2.90, or 14%, to US$17.69.
Among juniors, U.S. Gold was obliged to pull back its offer for Venture-listed White Knight Resources following an opinion from the Securities and Exchange Commission that U.S. Gold needed to file more information before making a formal bid. U.S. Gold was down US$1.78 to US$6.72.
Despite inflation fears — an increase in the core U.S. consumer price index having been one of the factors spooking the market — crude oil prices declined, possibly as a result of the Western initiative for talks with Iran. Brent prices were back into the high US$60s, while New York Mercantile Exchange prices for light sweet crude fell to US$68.63. That was bad for the coal companies, and the market knew it: Arch Coal plunged US$7.42 to US$39.58, Foundation Coal slid US$4.96 to US$39.40, and Peabody Energy dived US$11.28 to US$49.52.
The Big Three of the base metal sector all lost ground, with Rio Tinto off US$18.84 to US$190.02, BHP Billiton down US$3.20 to US$38.48, and Anglo American falling US$1.62 to US$17.42. Cooling copper prices hit Southern Peru Copper, which fell US$12.10 to US$72.77, and Freeport-McMoRan Copper & Gold, which fell US$4.45 to US$47.46. The most active of the large base metal miners was diversified producer Companhia Vale do Rio Doce, with over 40 million shares moving. It was hit for a US$2.90 loss, closing at US$20.54. Phelps Dodge, which saw 28 million shares change hands, was down US$6.35 at US$76.81.
U.S. greatest percentage change
Volume(000s) | High | Low | Close | Change | ||
Commerce Grp* | CGCO | 115 | 0.15 | 0.10 | 0.15 | +25.0 |
Lafayette Mng* | LYMGF | 77 | 0.08 | 0.06 | 0.06 | +20.0 |
Campbell Res* | CBLRF | 548 | 0.165 | 0.142 | 0.16 | +5.2 |
Bullion Rvr G* | BLRV | 752 | 0.87 | 0.73 | 0.85 | +4.9 |
Madison Minls* | MMRSF | 199 | 0.346 | 0.273 | 0.34 | +3.0 |
US Antimony* | UAMY | 61 | 0.75 | 0.65 | 0.70 | +2.9 |
IMA Expl* | IMR | 129 | 2.99 | 2.76 | 2.95 | +2.7 |
Liberty Star* | LBTS | 962 | 1.29 | 1.15 | 1.23 | +2.5 |
Apollo Gold* | AGT | 469 | 0.53 | 0.48 | 0.48 | +2.1 |
Northern Dyn* | NAK | 746 | 8.45 | 7.56 | 8.19 | +2.1 |
Gold Reserve* | GRZ | 781 | 7.29 | 4.08 | 4.70 | -36.0 |
Geocom Res* | GOCM | 1015 | 0.50 | 0.32 | 0.32 | -36.0 |
Cream Mnrls* | CRMXF | 292 | 0.53 | 0.311 | 0.35 | -34.5 |
Peru Copper* | CUP | 11796 | 6.90 | 4.07 | 4.10 | -32.2 |
Crystallex In* | KRY | 9961 | 4.28 | 2.36 | 3.04 | -25.6 |
US Energy* | USEG | 750 | 4.93 | 3.69 | 3.69 | -24.1 |
Northw Min Vt* | NWTMF | 1915 | 0.54 | 0.41 | 0.41 | -24.0 |
Orezone Res* | OZN | 350 | 1.74 | 1.37 | 1.37 | -23.0 |
Intl Coal Gp* | ICO | 6419 | 8.74 | 6.51 | 6.53 | -22.6 |
Uranerz Engy* | URNZ | 356 | 2.52 | 1.72 | 1.96 | -22.2 |
U.S. greatest value change
volume | close | change | ||
Falconbridge* | FAL | 1256000 | 50.16 | +0.51 |
Northern Dyn* | NAK | 746300 | 8.19 | +0.17 |
IMA Expl* | IMR | 128800 | 2.95 | +0.08 |
Bullion Rvr G* | BLRV | 751868 | 0.85 | +0.04 |
Commerce Grp* | CGCO | 114500 | 0.15 | +0.03 |
Liberty Star* | LBTS | 962201 | 1.23 | +0.03 |
US Antimony* | UAMY | 61050 | 0.70 | +0.02 |
Apollo Gold* | AGT | 469400 | 0.48 | +0.01 |
Lafayette Mng* | LYMGF | 77150 | 0.06 | +0.01 |
Madison Minls* | MMRSF | 199071 | 0.34 | +0.01 |
Rio Tinto* | RTP | 2623900 | 190.02 | -18.84 |
Southern Peru* | PCU | 9120800 | 72.77 | -12.10 |
Peabody Enrgy* | BTU | 24981700 | 49.52 | -11.28 |
Arch Coal* | ACI | 17405200 | 39.58 | -7.42 |
Alcan* | AL | 14004100 | 44.21 | -6.79 |
CONSOL Energy* | CNX | 11675400 | 37.03 | -6.71 |
Soc Quim&M Ch* | SQM | 232000 | 94.50 | -6.66 |
Potash C Sask* | POT | 3783600 | 79.18 | -6.49 |
Phelps Dodge* | PD | 28332200 | 76.81 | -6.35 |
Lihir Gold* | LIHRY | 340873 | 40.30 | -6.18 |
U.S. most active issues
Volume(000s) | High | Low | Close | Change | ||
UNICO Inc* | UNCN | 632100 | 0.002 | 0.002 | 0.002 | 0.00 |
AuGrid* | AUGC | 217639 | 0.00 | 1.0E8 | 0.00 | 0.00 |
Goldspring* | GSPG | 42201 | 0.015 | 0.012 | 0.012 | -0.001 |
CVRD* | RIO | 40889 | 45.35 | 20.22 | 20.54 | -2.90 |
Alcoa* | AA | 29982 | 31.52 | 28.55 | 29.73 | -1.65 |
Phelps Dodge* | PD | 28332 | 83.71 | 75.11 | 76.81 | -6.35 |
Newmont Mng* | NEM | 28080 | 52.17 | 47.93 | 48.52 | -3.96 |
Freeport McMo* | FCX | 26779 | 53.58 | 47.10 | 47.46 | -4.45 |
Peabody Enrgy* | BTU | 24982 | 60.80 | 49.25 | 49.52 | -11.28 |
Goldcorp* | GG | 23553 | 29.13 | 25.17 | 25.33 | -4.05 |
Be the first to comment on "U.S. Markets June 6-12"