U.S. Markets October 2-8

After the steady gains realized during the previous session, the United States markets retreated slightly over the Oct. 2-8 trading period on concerns that a slowing economy will reduce demand for energy and metals.

The Dow Jones Industrial Average fell 43.82 points to 14,043.73, though it managed to end the period above the record-setting 14,000-mark.

Bucking the trend, the Standard & Poor’s 500 Index rose 5.54 points to 1,552.58, while the Amex Gold Bugs Index dropped 12.77 points to 388.23 as gold fell US$8.75 to US$733.75 per oz.

A downward inclination was common among senior gold companies, as well.

Newmont Mining shares closed US$1.19 lower at US$44.83 apiece, while AngloGold Ashanti stock fell US75 to US$44.11. Meanwhile, Gold Fields saw 48 shaved off its share price, closing the week at US$17.87.

The mid-tier gold companies didn’t do much better. Buenaventura shares were off US98 at US$48.89 and Randgold Resources fell US$1.82 to US$31.80 per share. Smaller gold producers also saw losses, with Coeur d’Alene Mines down US12 at US$3.73, Hecla Mining drifting US61 lower to US$8.55 per share and Lihir Gold off US$2.18 at US$35.10. Lihir shrugged off rumours of rising militancy at its Papua New Guinea operations after a strike last month forced the company to downgrade its forecast by 30,000 oz. gold to 800,000 oz. for the year.

Explorers and small producers didn’t fare much better: Apex Silver Mines saw its stock slide US21 to US$19.60 apiece; Canyon Resources was a penny higher at US38 per share; and Mines Management stock retreated US28 to close at US$3.37.

The base metal producers saw much of the same as copper fell US10 to US$3.62 per lb.

Anglo American’s share price saw a US$1.20-drop, settling at US$33.11; BHP Billiton fell US$3.44 to US$78.44; Companhia Vale do Rio Doce slid US$2.87 to US$33.27; and Freeport-McMoRan Copper & Gold slumped US$3.05 to US$108.13.

As it awaited more regulatory clearances to take over Alcan, Rio Tinto shares plunged US$17.90 to become the biggest loser in the markets, ending the period at US$340.06 apiece.

Potash Corp. of Saskatchewan was next on the loss list, falling US$6.30 to US$103.66 per share, along with fellow fertilizer maker Mosaic Company, based in Minnesota, which fell US$2.72 to US$$51.38. Meanwhile, hedge fund managers in New York claimed that as developing countries grow richer and ethanol consumption increases, the demand for fertilizer will continue to grow, placing these two companies at the top of their industry.

U.S. greatest percentage change

VOLUME(000s) HIGH LOW CLOSE CHANGE
Strata O&G* SOIGF 2997 3.49 1.32 3.25 + 124.1
Gemini Expl* GXPI 12190 0.15 0.066 0.144 + 111.7
HE-5 Res* HRRN 110 0.175 0.10 0.175 + 45.8
Minco Gold* MGH 1669 1.17 0.73 1.14 + 44.3
Beeston Ent* BESE 72 0.75 0.45 0.75 + 25.0
Commerce Grp* CGCO 29 0.15 0.10 0.15 + 25.0
GoldMountain* GMEX 983 0.28 0.20 0.26 + 23.8
Birch Mountn* BMD 1539 1.84 1.40 1.76 + 18.9
Madison Minls* MMRSF 57 0.40 0.30 0.40 + 17.6
Entree Gold* EGI 454 3.04 2.49 3.00 + 16.7
Sparrowtech R* SPMC 56 0.06 0.03 0.03 50.0
Halo Res* HLOSF 13 0.82 0.40 0.40 31.1
NT Holding* NTHH 25 0.05 0.035 0.035 30.0
Pine Valley M* PVMCF 748 0.025 0.02 0.021 30.0
Global Gold* GBGD 83 1.01 0.50 0.75 25.0
Pac Gold* PCFG 1796 0.155 0.115 0.115 23.3
Fischer-W Gld* FWGO 94 0.07 0.066 0.066 16.4
Little Squaw* LITS 123 1.09 0.86 0.95 13.6
Miranda Gold* MRDDF 83 1.245 1.10 1.10 13.3
Santa Fe Gold* SFEG 432 0.57 0.45 0.47 12.9

U.S. greatest value change

VOLUME CLOSE CHANGE
Soc Quim&M Ch* SQM 371100 190.24 + 12.25
Strata O&G* SOIGF 2996648 3.25 + 1.80
OM Group* OMG 2377400 55.52 + 1.63
Cleveland-Cli* CLF 4720900 92.85 + 1.07
Alpha Nat Res* ANR 7405200 25.00 + 1.07
Fording C C T* FDG 2823000 39.21 + 0.99
Cabot Corp* CBT 1940800 37.30 + 0.97
Northern Dyn* NAK 1545300 11.80 + 0.90
Allied Nevada* ANV 237100 6.39 + 0.85
Massey Energy* MEE 6498300 22.71 + 0.81
Rio Tinto* RTP 2257600 340.06 17.94
Potash C Sask* POT 14553120 103.66 6.30
Yanzhou Coal* YZC 493000 100.29 5.71
BHP Billi-BBL* BBL 1640000 70.90 4.37
BHP Billi-BHP* BHP 19447169 78.44 3.44
Southern Copp* PCU 7565205 124.50 3.30
Freeport McMo* FCX 41621170 108.13 3.05
CVRD* RIO 167414998 33.27 2.87
Mosaic* MOS 14986880 51.38 2.72
Cameco Corp* CCJ 14071000 42.37 2.58

U.S. most active issues

VOLUME(000s) HIGH LOW CLOSE CHANGE
CVRD* RIO 167415 36.22 31.52 33.27 2.87
Alcoa* AA 46353 39.29 36.95 38.30 0.85
StreetTr Gold* GLD 42118 73.64 71.24 72.53 1.37
Freeport McMo* FCX 41621 112.18 104.90 108.13 3.05
Barrick Gold* ABX 38165 41.18 38.81 40.55 0.68
Newmont Mng* NEM 30293 46.19 44.25 44.83 1.19
Goldcorp* GG 27851 31.36

29.25 30.43 0.77
Coeur d Alene* CDE 24327 3.85 3.62 3.75 0.15
AngloGold Ash* AU 21255 44.74 42.77 44.11 0.75
Gold Fields* GFI 20749 18.36 17.11 17.87 0.48

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