U.S. Markets November 20-26

It was another tough stretch for U.S. equity markets. The Dow Jones Industrial Average fell 215 points, to 12,743.44, over the reporting period Nov. 20-26, falling past the lows it touched in August. Its 1.7% slide was closely matched by the Standard & Poor’s 500 Index, which was down 1.8% in the same period.

Gold broke US$800 per oz. and stayed there, finishing the period at US$830, up US$51.15 on the five trading days in London. That pulled the gold stocks higher, with the Philadelphia Gold and Silver Index rising 5.23 points or 3.2% to 169.51 and the Amex Gold Bugs Index rising 17.75 points (4.5%) to 415.97.

Among the mining issues on U.S. exchanges, the declining stocks only just outnumbered advancing ones, 98 to 79. In general, the bluer the chip, the better it did during the period; most of the declining stocks were juniors on the NASDAQ or Amex.

The big gold producers mostly held to that pattern: Newmont Mining was up US$1.87 to US$50.44, while AngloGold Ashanti gained US$1.36 to close at US$44.04. Gold Fields was off US17 at US$16.92 and Harmony Gold Mining backed up US32 to US$9.74.

Hecla Mining was a strong performer in the mid-tiers, rising US77 to US$11.88 after trading as high as US$12.57, a 52-week high. Minas Buenaventura picked up US$2.07 to finish at US$54.46, and Coeur d’Alene Mines was US36 higher at US$4.29.

Base metal producers were more affected by the general economic picture, especially the copper-sensitive stocks. Freeport-McMoRan Copper & Gold slipped US$3.20 to US$89.30, while Southern Copper was down US$1.02 at US$101 and Companhia Vale do Rio Doce was cut US$2.64 to US$31.

Rio Tinto fired back a defensive shot at BHP Billiton’s proposal for merger talks, saying it could deliver better growth to its shareholders on its own. Rumours of a Chinese consortium moving on Rio pumped the stock briefly, but Rio finished only US$9.34 higher at US$425.39; BHP, which has seen about US$30 billion in market capitalization disappear since it called for merger talks, was up US13 at US$70.97.

U.S. greatest percentage change

VOLUME(000s) HIGH LOW CLOSE CHANGE
NT Holding* NTHH 25 0.07 0.06 0.07 + 75.0
Birch Mountn* BMD 2402 0.92 0.541 0.79 + 31.2
Idaho Gen Mn* GMO 5797 11.29 9.36 10.57 + 24.9
Capital Gold* CGLD 1673 0.79 0.635 0.78 + 20.0
Contintl Mnls* KMKCF 478 1.82 1.53 1.79 + 19.3
Homeland Pr M* HPMEF 18 0.23 0.15 0.15 + 15.3
Shoshone Silv* SHSH 121 0.33 0.27 0.30 + 11.1
Tanz Roy Exp* TRE 1765 6.49 5.69 6.27 + 10.1
Massey Energy* MEE 5340 32.39 28.46 31.43 + 9.8
Silver Dragon* SDRG 503 0.90 0.74 0.89 + 9.8
Commerce Grp* CGCO 546 0.16 0.05 0.075 53.4
NovaGold Res* NG 22594 20.27 9.11 9.48 48.1
World Vent* WVNTF 38 0.13 0.09 0.09 40.0
Sparrowtech R* SPMC 837 0.048 0.02 0.031 38.0
HE-5 Res* HRRN 761 0.035 0.025 0.025 37.5
Pac Gold* PCFG 4077 0.08 0.04 0.063 30.0
Strata O&G* SOIGF 677 1.20 0.84 0.89 23.9
Geocom Res* GOCM 25 0.203 0.165 0.165 17.9
Kimber Res* KBX 731 1.12 0.75 0.76 17.3
Uranium Star* URST 315 0.30 0.25 0.25 16.6

U.S. greatest value change

VOLUME CLOSE CHANGE
Rio Tinto* RTP 2544336 425.39 + 9.34
Cleveland-Cli* CLF 6608300 80.44 + 5.91
Yanzhou Coal* YZC 461217 86.62 + 5.62
CONSOL Energy* CNX 9534265 55.00 + 4.82
StreetTr Gold* GLD 31919400 81.30 + 4.06
Foundatn Coal* FCL 3395870 42.97 + 3.53
Goldcorp* GG 27466327 33.48 + 2.85
Massey Energy* MEE 5340110 31.43 + 2.81
Barrick Gold* ABX 28531685 41.71 + 2.79
Mosaic* MOS 10462059 61.98 + 2.64
NovaGold Res* NG 22594286 9.48 8.81
Teck Comin B* TCK 7240532 36.00 3.92
Soc Quim&M Ch* SQM 272300 159.30 3.61
Freeport McMo* FCX 52599049 89.30 3.20
CVRD* RIO 105292399 31.00 2.64
Seabridge Gld* SA 1546028 27.17 1.86
Alumina Inc* AWC 383920 21.98 1.70
Southern Copp* PCU 8938923 101.00 1.02
North Am En P* NOA 163200 12.97 0.99
Westmoreland* WLB 128600 17.20 0.89

U.S. most active issues

VOLUME(000s) HIGH LOW CLOSE CHANGE
CVRD* RIO 105292 34.94 30.10 31.00 2.64
Freeport McMo* FCX 52599 94.98 87.26 89.30 3.20
Alcoa* AA 36917 36.10 34.56 34.88 0.19
Coeur d Alene* CDE 33243 4.43 3.91 4.29 + 0.36
StreetTr Gold* GLD 31919 82.25 77.30 81.30 + 4.06
Barrick Gold* ABX 28532 43.46 39.50 41.71 + 2.79
Goldcorp* GG 27466 34.75 31.35 33.48 + 2.85
Newmont Mng* NEM 26762 52.55 49.48 50.44 + 1.87
NovaGold Res* NG 22594 20.27 9.11 9.48 8.81
BHP Billi-BHP* BHP 21747 73.45 68.80 70.97 + 0.13

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