Market News May 3, 2007

Market News for May 3rd 2007

Dow Jones 13,241.38 +29.50 or +0.22% YTD: +6.24%
S&P 500 1,502.39 +6.47 or +0.43% YTD: +5.93%
NASDAQ 2,565.46 +7.62 or +0.30% YTD: +6.22%
TSX COMP 13,687.00 +108.26 or +0.80% YTD: +6.03%
TSX VENT 3322.29 +59.95

Canadian dollar $Cdn. $U.S.
BoC Closing rate 1.1066 0.9037
Previous BoC closing rate 1.1087 0.9020

Gold AM PM
London Gold Fix (US) $675.90 $674.20

Spot Crude Oil Future(US) $63.19 -$0.49 or -0.77%

NEWS

Volatile conditions continued on the Toronto stock exchange Thursday with the main index closing sharply higher for a second session after sustaining steep declines earlier in the week, with investors encouraged by a fresh round of dealmaking in the steel and mining sectors.

Investors also took in the announcement of plans for an alternative stock trading system that could rival the Toronto Stock Exchange.

New York markets also moved higher as data showed slowing productivity, but also lower wage growth, while the market was dragged down by General Motors’ quarterly earnings report showing sharply lower profits.

Toronto’s S&P/TSX composite index jumped 108.26 points to 13,687 after charging ahead 172 points Wednesday. The two sessions of gains more than compensated for the 225-point drubbing from earlier in the week.

The TSX Venture Exchange was up 59.95 points to 3,322.29 and the Canadian dollar rose 0.17 of a cent to 90.37 cents US.

On Wall Street, the Dow Jones industrials moved 29.5 points higher to 13,241.38 as productivity, the amount of output per hour of work, rose at an annual rate of 1.7% in the first quarter, down from a 2.1% rise in the final three months of last year.

Unit labour costs rose only 0.6%, compared with a 6.2% surge in the final three months of last year and much better than the 3.8% rise that was expected.

The Nasdaq composite index was ahead 7.62 points to 2,565.46 and the S&P 500 index ticked ahead 6.47 points to 1,502.39, closing above 1,500. for the first time since September, 2000..

The TSX energy sector moved up 1.2% while the price of oil continued to decline after U.S. government fuel stocks data showed gasoline supplies shrank less than expected last week, while crude stocks rose.

The June crude contract on the New York Mercantile Exchange moved down 49 cents to $63.19 a barrel.

The financial sector was down a slight 0.2% with Manulife Financial Corp. stock down 49 cents to $39.85.

On the TSX, advances beat declines 942 to 693 with 206 unchanged as 469 million shares traded worth $7.9 billion. (Canadian Press)

TSX

Most Active By Trading Volume*
Symbol Price $ Change %Change Volume
LIM 23.750 +4.800 +25.33 36,780,386
DY 4.700 +0.220 +4.91 14,364,012
RNG 5.520 +0.080 +1.47 13,519,438
BWR 2.350 +0.060 +2.62 9,925,369
BBD.B 4.850 +0.060 +1.25 7,493,460
EQN 2.550 +0.060 +2.41 7,043,767
TVI 0.200 +0.025 +14.29 6,131,853
MNB 6.400 +0.700 +12.28 6,021,974
K 15.490 +0.290 +1.91 5,711,686
SXR 16.810 +0.510 +3.13 5,520,141
S 15.480 +0.550 +3.68 5,450,927
FNI 1.870 +0.180 +10.65 5,442,656
G 27.390 +0.020 +0.07 5,192,301
X 41.770 -5.670 -11.95 4,854,766
JNI 0.280 +0.020 +7.69 4,631,200

TSX VENTURE

Most Active By Trading Volume*
Symbol Price $ Change % Change Volume
USA 1.350 +0.120 +9.76 8,468,038
IFL 0.055 +0.015 +37.50 7,916,200
VIG 0.040 +0.010 +33.33 4,893,000
BN 0.560 +0.105 +23.08 4,183,416
VGL 0.055 +0.015 +37.50 3,444,300
PJO 11.110 +2.420 +27.85 3,430,846
FO 3.040 -0.110 -3.49 2,960,705
NWT 0.830 +0.020 +2.47 2,840,989
GGL 0.680 +0.010 +1.49 2,741,400
AFA 0.340 -0.025 -6.85 2,710,484
SAU 0.080 +0.005 +6.67 2,637,000
GBK 0.330 +0.040 +13.79 2,557,000
CML 1.120 +0.090 +8.74 2,413,807
SE 1.180 -0.040 -3.28 2,361,946
IZN 1.800 +0.060 +3.45 2,236,894

HALTS AND RESUMPTIONS

– Trade Resumption – SQI Diagnostics Inc. – SQD – formerly Emblem Capital Inc. – EMB.P
– Trade Resumption – Cadre Resources Ltd. – CSL.H
– Trading Halt – Provident Energy Trust – PVE – All Issues – Pending News
– Trading Halt – Capital Energy Resources – CPX – Pending News
– Trading Halt/Resumption Yorbeau Resources Inc. – YRB.A
– Trading Halt/Resumption – CCL Industries Inc. – CCL.A, CCL.B
– Trading Halt/Resumption – Diamond Fields International Ltd. – DFI
– Trading Halt – Gemini Acquisitions Inc. – GQI.P – Pending News
– Trade Resumption – Palmarejo Silver & Gold Corp – PJO
– Trade Resumption – IPSCO Inc. – IPS
– Trade Resumption – Wealth Minerals Ltd. – WML
– Trade Resumption – Goldcrest Resources Ltd. – GCL
– Trading Halt – IPSCO Inc. – IPS – Pending News
– Trade Resumption – Kingsway Financial – KFS

Sources include Advisors.ca, TSX.com, Canadian Press, Yahoo Finance,
Stockhouse.com
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