Market News May 23, 2007

Market closes for Wednesday, May 23, 2007:

Dow Jones 13,525.65 -14.30 or -0.11% YTD: +8.53%
S&P 500 1,522.28 -1.84 or -0.12% YTD: +7.33%
NASDAQ 2,577.05 -10.97 or -0.42% YTD:+6.70%
TSX COMP 14,142.51 +30.32 or +0.21% YTD: +9.56%
TSX VENT 3278.92 +4.24
Canadian dollar $Cdn. $U.S.
BoC Closing rate 1.0821 0.9241
Previous BoC closing rate 1.0860 0.9208

Cdn. Dollar/Euro Spot Rate 1.4569 0.6864
Gold AM PM
London Gold Fix (US) $659.20 $662.05

Spot Crude Oil Future(US) $65.77 +$0.26 or +0.40

NEWS
The Toronto stock market put in its fifth consecutive record close Wednesday on takeover activity and a better than expected quarterly earnings report from Bank of Montreal, while the Canadian dollar closed at a fresh 30-year high.

But the TSX finished well off the best levels of the day and New York indexes retreated after former Federal Reserve Chairman Alan Greenspan raised the spectre of a sharp retracement in the Chinese stock market, saying he feared a “dramatic correction.”

The Shanghai Composite Index, which tracks shares listed on the larger of China’s two stock exchanges, has gained 56% year-to-date

Toronto’s S&P/TSX composite index closed up 30.32 points to 14,142.51 and the TSX Venture Exchange gained 4.24 points to 3,278.92.

In New York, the Dow Jones industrial average fell 14.3 points to 13,525.65. The Nasdaq composite index was down 10.97 points to 2,577.05 and the S&P 500 index declined 1.84 points to 1,522.28.

The loonie moved up 0.33 of a cent to 92.41 cents US, its highest close since October, 1977, after rising more than a full cent in the previous two sessions as currency traders believe Canadian interest rates could rise later this year while U.S. rates decrease.

High commodity prices and positive economic reports have also boosted the currency.
The latest push came Wednesday when Statistics Canada reported its leading indicator of future economic activity rose 0.4% in April as household spending slowed but manufacturing continued to recover from a slump.

The financial sector moved up slightly as Bank of Montreal advanced $1.32 to $70.20 after reported its second-quarter profit rose 3.1% to $671 million despite big losses on natural gas trading.

The TSX energy sector moved ahead 0.27% as oil prices held steady following data from the U.S. Department of Energy that gasoline supplies climbed for a third week last week, up 1.5 million barrels. Crude supplies rose for a fifth straight week, up two million barrels.

The July crude contract on the New York Mercantile Exchange gained 26 cents to $65.77 a barrel.
The tech sector declined 0.4%.
On the TSX, advances narrowly beat declines 818 to 806 with 245 unchanged as 438.3 million shares traded worth $7.7 billion. (Canadian Press)

TSX
Most Active By Trading Volume*

Symbol Price $ Change % Change Volume
DY 4.860 +0.000 +0.00 26,430,056
EQN 3.010 +0.110 +3.79 16,301,002
LIM 28.370 +1.120 +4.11 16,226,821
RNG 5.540 +0.140 +2.59 8,869,710
S 16.000 +0.090 +0.57 8,152,870
BCE 39.260 +0.510 +1.32 7,644,730
SRU 1.260 -0.040 -3.08 7,150,068
BBD.B 4.680 -0.090 -1.89 5,590,205
SAS.RT 0.005 +0.000 +0.00 5,434,011
ELR 2.480 +0.030 +1.22 5,264,944
SAG 0.055 +0.010 +22.22 4,997,300
ACE.A 26.440 +0.600 +2.32 4,752,836
PDN 8.050 -0.030 -0.37 4,285,666
NXY 33.100 +0.000 +0.00 3,793,959
CHD 0.990 +0.050 +5.32 3,793,350

TSX VENTURE
Most Active By Trading Volume*

Symbol Price $ Change % Change Volume
IZN 1.600 -0.100 -5.88 20,189,256
PIK 0.730 -0.030 -3.95 13,720,568
DNI 0.180 +0.045 +33.33 11,884,950
SKI 0.590 -0.010 -1.67 9,621,650
FO 3.690 -0.080 -2.12 5,710,787
AGX 0.240 +0.000 +0.00 3,962,850
GCR 2.140 -0.160 -6.96 3,858,212
BDO 0.780 +0.030 +4.00 3,348,000
GRW 0.185 +0.015 +8.82 2,649,500
NAI 0.220 +0.025 +12.82 2,514,567
WUC 3.700 +0.100 +2.78 2,065,530
RML 2.890 +0.040 +1.40 1,948,422
KG 0.130 -0.010 -7.14 1,786,880
AFA 0.345 -0.030 -8.00 1,783,501
FST 1.300 -0.050 -3.70 1,639,700

TRADING HALTS/RESUMPTIONS
Trading Halt – Caribou Resources Corp. – CBU , Pending News
Trading Halt/ Trade Resumption – Grandview Gold Inc. – GVX
Trading Halt – Cream Minerals Ltd. – CMA , Pending News
Trading Halt – Pan Orient Energy Corp – POE , Pending News
Trading Halt – Silvio Ventures Inc. – SIV.H , Pending News
Trade Resumption – C2C Inc. – CCN
Trading Halt/ Trade Resumption – Redstar Oil & Gas Inc. – RED
Trading Halt – Dynamite Resources Ltd. – DNR , Pending News
Trading Halt/ Trade Resumption – Falcon Oil & Gas Ltd. – FO
Trading Halt /Trade Resumption – Gold Port Resources Ltd. – GPO
Trading Halt/ Trade Resumption – The Westaim Corporation – WED
Trading Halt – Dacha Cap Inc. – DAC ,Pending News
Trade Resumption – Essential Energy Services Trust – ESN.UN
NEW LISTINGS
Painted Pony Petroleum Ltd. To Trade On TSX Venture Exchange , PPY.A PPY.B , 12,000 units at $1,000 per unit). Each unit consists of 400 “flow-through” Class A shares at a deemed price of $0.25 per share and 90 “flow-through” Class B shares at a deemed price of $10.00 per share.At the opening Wednesday, May 23, 2007, the Class A shares and Class B shares will commence trading on TSX Venture Exchange

EPCOR Power Equity Ltd. To Trade On Toronto Stock Exchange, EPP.PR.A ,original listing in the Industrial category of 5,000,000 4.85% cumulative redeemable preferred shares, series 1 , will be posted for trading on Friday, May 25, 2007.

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