Market News May 22, 2007

Market closes for Tuesday, May 22, 2007:
Dow Jones 13,539.95 -2.93 or -0.02% YTD: +8.64%
S&P 500 1,524.12 -0.98 or -0.06% YTD: +7.46%
NASDAQ 2,588.02 +9.23 or +0.36% YTD:+7.15%
TSX COMP 14,112.19 +6.85 or +0.05% YTD: +9.33%
TSX VENT 3274.68 -4.92
Canadian dollar $Cdn. $U.S.
BoC Closing rate 1.0860 0.9208
Previous BoC closing rate 1.0895 0.9178

Cdn. Dollar/Euro Spot Rate 1.4608 0.6846
Gold AM PM
London Gold Fix (US) $663.50 $662.00

Spot Crude Oil Future(US) $64.97 -$1.30 or -1.96

NEWS
The Toronto stock market drifted to a slightly higher close Tuesday, establishing a fresh record high while the Canadian dollar closed above the 92-cent US level for the first time in three decades.

New York markets closed mixed in choppy trading as investors were pleased with the latest round of takeover activity but hesitant to take the values sharply higher ahead of new economic data.

The Canadian dollar moved up 0.29 of a cent to 92.08 cents US, its highest close since October, 1977, after jumping by more than three-quarters of a cent Friday.

Analysts attribute the currency’s sharp rise to positive economic reports, higher-than-expected inflation and strong commodity prices.

On Wall Street, the Dow Jones industrials moved 2.93 points lower to 13,539.95. The Nasdaq composite index rose 9.23 points to 2,588.02 and the S&P 500 index edged 0.98 of a point lower to 1,524.12.

Further direction might come Thursday, when the U.S. Commerce Department reports on durable goods orders for April.
On the TSX, the energy sector turned slightly negative after the June crude oil contract on the New York Mercantile Exchange fell $1.30 to $64.97 after jumping $1.33 Monday, and 4% last week.

Prices have been driven higher on worries about North American summer gasoline availability and the reliability of supplies from Nigeria.

Prices seemed unaffected by an announcement from BP that it will shut down 100,000 barrels a day of its Alaskan oil production for a “few days” after discovering a water pipeline leak at Prudhoe Bay.

The utilities sector gained 1.6%.
The mining sector was a weight, losing 0.63% and the gold sector lost 1.45% with the June bullion contract down $3.90 to $659.90 an ounce.

On the TSX, advances beat declines 867 to 772 with 233 unchanged as 408 million shares traded worth $6.9 billion.(Canadian Press)

TSX
Most Active By Trading Volume*

Symbol Price $ Change % Change Volume
SRU 1.300 +0.280 +27.45 12,447,216
PDN 8.080 +0.150 +1.89 9,662,597
SAS.RT 0.005 -0.010 -66.67 6,977,049
EQN 2.900 +0.130 +4.69 6,894,501
SXR 16.840 +0.260 +1.57 6,395,356
RNG 5.400 -0.050 -0.92 6,236,088
LIM 27.250 -0.390 -1.41 5,841,803
ELR 2.450 +0.000 +0.00 5,553,014
EPM 1.440 +0.100 +7.46 5,524,082
KRY 5.380 +0.200 +3.86 5,231,427
BWR 2.400 -0.010 -0.41 5,146,036
EMC 18.420 +1.770 +10.63 4,907,843
BBD.B 4.770 -0.060 -1.24 4,899,798
GIB.A 11.370 +0.370 +3.36 4,295,032
CHD 0.940 +0.020 +2.17 3,693,885

TSX VENTURE
Most Active By Trading Volume*

Symbol Price $ Change % Change Volume
GCR 2.300 +0.570 +32.95 7,684,834
NRS 1.040 -1.140 -52.29 4,550,171
FO 3.770 +0.180 +5.01 4,456,164
KG 0.140 +0.040 +40.00 4,124,712
AGX 0.240 +0.050 +26.32 2,718,597
ECU 2.220 -0.010 -0.45 2,358,700
MBV 0.105 +0.015 +16.67 2,343,000
LTI 0.260 +0.025 +10.64 1,966,175
BVT 0.520 -0.020 -3.70 1,882,961
GML 0.650 +0.070 +12.07 1,734,410
CYR 2.000 +0.100 +5.26 1,689,750
PNL 0.600 +0.020 +3.45 1,559,500
SHH 0.450 -0.005 -1.10 1,547,896
RGT 2.830 +0.150 +5.60 1,498,699
CNU 0.530 +0.010 +1.92 1,391,700

TRADING HALTS/RESUMPTIONS
Trading Halt – Essential Energy Services Trust – ESN.UN , Pending News
Trade Resumption – Lochaird Capital Corp. – LEI.P
Trading Halt/ Trade Resumption – NRG Investments Inc. – NRGI
Trading Halt – Redzone Resources Ltd. – REDZ , Pending News
Trading Halt /Trade Resumption – Gemini Energy Corp. – GNI
Trading Halt/ Trade Resumption – Q Investments Ltd – QI
Trading Halt/ Trade Resumption – Falcon Oil & Gas Ltd – FO
Trading Halt – C2C Inc. – CCN , Pending News
Trading Halt/Trade Resumption – Dynasty Metals & Mining Inc. – DMM
Trade Resumption – Energy Metals Corporation – EMC
Trading Halt/Trade Resumption – Real Resources Inc. – RER
Trading Halt – SBI Skin Biology Incorporated – SBI.H ,Pending News
Trading Halt/Trade Resumption – Tristar Oil & Gas – TOG
Trading Halt – Tyler Resources Inc. – TYS , Company Request Pending News
Trade Resumption – United Reef Ltd. – URP, URPL

NEW LISTINGS
Petro Andina Resources Inc. To Trade On Toronto Stock Exchange ,PAR , a minimum of 4,500,000 Common Shares and a maximum of 6,700,000 Common Shares at a price of $9.00 per Common Shares, up to 39,315,156 will be issued and outstanding and up to 3,931,515 Common Shares will be reserved for issuance., will be posted for trading at the opening on Wednesday, May 23, 2007

Stingray Resources Inc. To Trade On Toronto Stock Exchange , SRY ,SRY.WT , 58,725,982 Common Shares are issued and outstanding, and 34,882,647 Common Shares are reserved for issuance, An application has also been granted for the listing of 22,101,000 common share purchase warrants (“Warrants”), of which 20,850,00 are issued and outstanding, and 1,251,000 Warrants are reserved for issuance., will be listed and posted for trading at the opening on Thursday, May 24, 2007., and will be delisted from TSX Venture Exchange on May 24, 2007.

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