Market News May 7, 2007

Market closes for Monday, May 7, 2007:

Dow Jones 13,312.97 +48.35 or +0.36% YTD: +6.82%
S&P 500 1,509.48 +3.86 or +0.26% YTD: +6.43%
NASDAQ 2,570.95 -1.20 or -0.05% YTD: +6.44%
TSX COMP 13,865.51 +95.62 or +0.69% YTD: +7.41%
TSX VENT 3369.79 +22.06
Canadian dollar $Cdn. $U.S.
BoC Closing rate 1.1018 0.9076
Previous BoC closing rate 1.1075 0.9029

Cdn. Dollar/Euro Spot Rate 1.4991 0.6671

Gold AM PM
London Gold Fix (US) $680.80 $688.80

Spot Crude Oil Future(US) $61.47 -$0.46 or -0.74%

NEWS
The Toronto stock market cruised to a fresh record high Monday in a fourth consecutive sessions of solid gains, with a big chunk of the lift provided by a takeover offer that could delete yet another big Canadian company from the TSX.

Alcan Inc. shares jumped $23.02 or 34% to $90.57 after receiving a $33-billion hostile takeover bid from U.S. rival Alcoa Inc., which, if successful, would be the largest corporate transaction in Canadian history.

Alcoa ran ahead $2.97 or 8.33% to US$38.63.
Toronto’s S&P/TSX composite index advanced 95.62 points to 13,865.51. The TSX Venture Exchange gained 22.06 points to 3,369.79

The Canadian dollar rose 0.47 of a cent to$90.76, its highest level since June, 2006.
Statistics Canada reported the value of building permits increased sharply in March, rising 27.4% to $6.1 billion. The strong showing followed a dismal 22.4% drop in building permits in February.

Acquisition news also spurred New York markets where the Dow Jones industrial average gained 48.35 points to another record high close of 13,312.97.

Private-equity firm Littlejohn & Co. of Greenwich, Conn., says it will pay $25 a share for Montreal-based Van Houtte, a 44% premium over Van Houtte’s average trading price in the past 20 days, according to Van Houtte, whose shares were ahead 67 cents to $24.78.

Investors are looking ahead to Wednesday’s scheduled announcement on interest rates by the U.S. Federal Reserve.
The central bank is widely expected to leave its key rate at 5.25% and the accompanying release will be closely watched for the Fed’s take on economic growth.

There was little strength on the TSX outside of the Alcan deal.
The utilities sector was the strongest performer, up 0.83%.
The Toronto market’s energy sector finished the session flat as the June crude contract on the New York Mercantile Exchange declined 46 cents to $61.47 a barrel.

The financial sector edged up 0.25%.
The information-technology sector was the weakest group, down 0.85%.
Consumer staples and telecom stocks were also weak.
On the TSX,. advances beat declines 895 to 727 with 201 unchanged as 403 million shares traded worth $7.4 billion. (Canadian Press)

TSX
Most Active By Trading Volume*

Symbol Price $ Change % Change Volume
ELR 2.630 +0.070 +2.73 24,073,067
AL 90.570 +23.020 +34.08 20,680,003
BWR 2.350 +0.040 +1.73 13,880,220
CCH 0.150 +0.015 +11.11 6,107,850
FNI 1.850 +0.010 +0.54 5,806,699
SXR 17.290 +0.600 +3.59 4,323,982
GSC 4.820 -0.060 -1.23 4,276,599
CHD 1.000 +0.010 +1.01 4,164,445
IQ 0.210 +0.000 +0.00 4,031,400
G 27.600 -0.070 -0.25 4,008,307
EQN 2.590 +0.010 +0.39 3,955,322
DY 5.000 +0.100 +2.04 3,644,809
DML 14.930 +1.220 +8.90 3,614,952
PDN 8.860 +0.210 +2.43 3,599,545
LIM 24.040 +0.190 +0.80 3,550,253

TSX VENTURE
Most Active By Trading Volume*

Symbol Price $ Change % Change Volume
TVC 4.030 +1.040 +34.78 5,781,176
TTQ 1.720 +0.420 +32.31 5,642,950
CML 1.330 +0.080 +6.40 4,665,077
BDO 0.790 -0.010 -1.25 3,992,000
LYT 0.105 +0.015 +16.67 3,265,452
USA 1.350 -0.050 -3.57 3,147,330
GEM 1.150 +0.150 +15.00 2,764,085
CBS 0.280 +0.025 +9.80 2,697,480
BLK 0.260 -0.090 -25.71 2,417,080
FV 0.700 +0.030 +4.48 2,186,000
CYP 0.465 -0.045 -8.82 2,185,350
FRP 0.750 -0.010 -1.32 2,145,350
NOT 0.670 +0.030 +4.69 2,067,350
BN 0.540 +0.000 +0.00 2,032,776
TJS 1.080 -0.080 -6.90 2,002,647

TRADING HALTS/RESUMPTIONS
Trade Resumption – NXA Inc. – NXI.H
Trade Resumption – Soyers Capital Ltd. – SOC
Trading Halt – Counsel Corp -CXS ,CXS was not halted – symbol should have read CSX
Trading Halt – Chalk Media Corp. – CKM ,Pending News
Trading Halt/ Trade Resumption – Arriscraft Intl Income Fund – AIN.UN
Trading Halt/ Trade Resumption – Pele Mountain Res Inc. – GEM
Trading Halt – Everbright Capital Corporation – EBC.P ,Pending News
Trading Halt – Consolidated AGX Resources – CSX ,Pending News
Trading Halt – Phoenix Oilfield Hauling Inc. – PHN ,Pending News
Trading Halt/ Trade Resumption – TTM Resources Inc – TTQ
Trade Resumption – Vulcan Minerals Inc. – VUL
Trade Resumption – Tournigan Gold Corp. – TVC
Trading Halt /Trade Resumption – Illumicell Corp. – ICC
Trading Halt – Skeena Resources Limited – SKE , Pending News
Trade Resumption – Blue Parrot Energy Inc. – BPA
Trade Resumption – VendTek Systems Inc. – VSI
NEW LISTINGS
Sandpoint Capital Inc. To Trade On TSX Venture Exchange , SPC.P , CPC, 2,000,000 common shares at $0.10 per share, At the opening May 4, 2007

Search Capital Inc. To Trade On TSX Venture Exchange , SCH.P , CPC, 2,000,000 common shares at $0.20 per share, At the opening May 7, 2007

Reocito Capital Inc. To Trade On TSX Venture Exchange , RCO.P, CPC, 4,000,000 common shares at $0.15 per share, at the opening Monday, May 7, 2007.

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