Market News May 17, 2007

Market closes for Thursday, May 17, 2007:

Dow Jones 13,476.72 -10.81 or -0.08% YTD:+8.13%
S&P 500 1,512.75 -1.39 or -0.09% YTD: +6.66%
NASDAQ 2,539.38 -8.04 or -0.32% YTD:+5.14%
TSX COMP 14,100.71 +75.68 or +0.54% YTD: +9.24%
TSX VENT 3236.55 -6.42

Canadian dollar $Cdn. $U.S.
BoC Closing rate
1.0987 0.9102
Previous BoC closing rate
1.1039 0.9059
Cdn. Dollar/Euro Spot Rate
1.4823 0.6746

Gold AM PM
London Gold Fix (US)
$663.20 $656.75
Spot Crude Oil Future(US)
$65.09 +$2.54 or +4.06%

NEWS

The Toronto stock market came back from a negative start to post record another record high close as energy stocks took off in the wake of a sharp spike in the price of oil, offsetting a downturn in mining stocks and Bank of Montreal’s announcement of deeper losses from natural gas trading.

Investors also took in higher-than-expected inflation in Canada during April.
The news initially sent its shares down about 2% but losses narrowed and the shares closed down 30 cents or 90.43% to $69.40.

Other bank stocks were little changed.
New York markets were stuck in the red as a weak economic report helped discourage investors a day after a strong runup again sent the blue-chip index into fresh record territory.

Toronto’s S&P/TSX composite index moved up 75.68 points to another record close of 14,100.71.
The Canadian dollar rose 0.43 of a cent to 91.02 cents US, its highest level since July, 2006, on an indication interest rates may be headed higher. Statistics Canada’s headline inflation rate was 2.2% in April, easing from 2.3% in March. But the core rate, which the Bank of Canada watches closely, came in at an unexpectedly hot 2.5%.

And wholesale sales rose 1.9% in March, following a 1% rise the previous month, pushing up sales in the first quarter by 3.4%, the biggest quarterly gain in three years.

The U.S. Conference Board said its index of leading economic indicators dropped 0.5% in April, a worse reading than the unchanged reading that had been expected.

The TSX energy sector was up 1.86% with the June crude oil contract on the New York Mercantile Exchange up $2.31 to $64.86 a barrel on comments by a top OPEC leader that the oil cartel will not pump more crude to meet an expected summer surge in demand.

The industrials sector moved up 0.8%.
The TSX mining sector was down 0.87%.
On the TSX, advancers narrowly beat declines 825 to 800 with 239 unchanged as 379 million shares traded worth $7 billion.

(Canadian Press)

TSX

Most Active By Trading Volume*

Symbol Price $ Change % Change Volume
SRU 0.990 -0.100 -9.17 7,953,418
BWR 2.320 -0.010 -0.43 7,023,966
GBU 4.080 -0.090 -2.16 6,975,233
EQN 2.660 +0.000 +0.00 6,724,856
TCK.B 44.580 -0.420 -0.93 6,398,471
SXR 15.400 -0.500 -3.14 5,748,808
BCE 37.880 +0.790 +2.13 4,599,874
G 25.470 -0.320 -1.24 4,362,848
SI 0.335 +0.045 +15.52 4,301,560
FM 85.850 -1.740 -1.99 4,230,595
K 14.180 -0.130 -0.91 3,987,645
MAE 4.720 +0.270 +6.07 3,793,098
BBD.B 4.870 +0.030 +0.62 3,781,379
DML 14.450 -0.600 -3.99 3,696,843
FNI 1.520 +0.040 +2.70 3,662,405

TSX VENTURE
Most Active By Trading Volume*

Symbol Price $ Change % Change Volume
GCR 1.380 -0.420 -23.33 10,359,378
FO 3.460 +0.430 +14.19 6,186,472
NAG 0.215 +0.000 +0.00 5,972,800
PFM 1.720 +0.630 +57.80 5,329,616
RGT 2.150 -2.150 -50.00 4,133,842
DEV 1.210 -1.270 -51.21 3,481,787
CYP 0.510 +0.045 +9.68 3,276,600
CML 1.140 -0.020 -1.72 2,689,945
RSG 0.215 +0.030 +16.22 2,600,500
SYH 0.170 -0.005 -2.86 2,220,700
GRT 0.440 +0.020 +4.76 2,196,300
BBP 2.180 -0.270 -11.02 2,073,675
RDT 0.650 -0.020 -2.99 2,072,500
UNI 0.395 -0.005 -1.25 1,978,379
PAX 0.690 +0.040 +6.15 1,814,471

TRADING HALTS/RESUMPTIONS

Trading Halt/Trade Resumption – The Spectra Group of Great Restaurants – SPA
Trading Halt/ Trade Resumption – Madison Pacific – MPC
Trading Halt/ Trade Resumption – Urodynamix Technologies Ltd. – URO
Trading Halt – Consolidated AGX Resources Corp – CSX , Pending News
Trading Halt/ Trade Resumption – Jite Technologies Inc. – JTI
Trade Resumption – Georgia Ventures Inc. – GVI
Trading Halt – Excelsior Energy Limited – EXEL , Pending News
Trade Resumption – Rockgate Capital Corp. – RGT
Trade Resumption – Delta Exploration Inc. – DEV

Sources include Advisors.ca, TSX.com, Canadian Press, Yahoo Finance,
Stockhouse.com
If you wish to be taken off this distribution list, please reply with
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Santo Sandhu, B.Ed
Investment Advisor
Wolverton Securities Ltd.
Tel: 604-662-5292
Fax: 604-662-5205
T-Free: 1-877-390-7771
E-mail: santos@wolverton.ca
Visit us at http://www.wolverton.ca

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