Market News May 25, 2007

Market closes for Friday, May 25, 2007:

Dow Jones 13,507.28 +66.15 or +0.49% YTD: +8.83%
S&P 500 1,515.73 +8.22 or +0.55% YTD: +6.87%
NASDAQ 2,557.19 +19.27 or +0.76% YTD: +5.88%
TSX COMP 14,024.07 +77.80 or +0.56% YTD: +8.64%
TSX VENT 3242.20 +36.21
Canadian dollar $Cdn. $U.S.
BoC Closing rate 1.0794 0.9264
Previous BoC closing rate 1.0847 0.9219

Cdn. Dollar/Euro Spot Rate 1.4512 0.6891

Gold AM PM
London Gold Fix (US) $655.00 $655.30

Spot Crude Oil Future(US) $65.20 +$1.02 or +1.59

NEWS
The Toronto stock market put in a solid performance Friday even as market heavyweight Royal Bank limited gains after its quarterly earnings results missed expectations while the Canadian dollar rolled ahead to another 30-year high.

New York indexes also advanced ahead of a three-day Memorial Day holiday weekend amid news of a big slowdown in home sales.

Toronto’s S&P/TSX composite index closed up 77.8 points to 14,024.07 but finished the week slightly lower after profit taking took a bite of almost 200 points from the TSX Thursday

Royal Bank increased its quarterly profit by 14% to $1.28 billion or 98 cents a share as revenue rose 11% to $5.67 billion. But analysts were expecting earnings of $1 per share.

Bad-debt provisions grew and RBC’s capital markets segment was down from its record levels of a year ago. The bank’s shares fell $1.79 or almost 3% to $58.83.

The Canadian dollar rose 0.45 a cent to 92.64 cents US, ahead of Tuesday’s next interest rate decision by the Bank of Canada, its highest close since September, 1977.

The currency has surged about 8% this year, partly on the belief that the central bank will raise rates later in the year while the U.S. Federal Reserve eases.

The National Association of Realtors in the U.S. reported sales of existing homes fell 2.6% last month to the slowest pace since June 2003, while the median price was 0.8% below a year ago.

Investors were encouraged by takeover activity as the Nasdaq Stock Market Inc. announced a US$3.67-billion deal to buy Sweden’s OMX AB, giving Nasdaq a beachhead in Europe.

The TSX energy sector was up 1.08%.
The mining sector moved up 3%.
On the TSX, advances beat declines 868 to 722 with 219 unchanged as 372.1 million shares traded worth $7.5 billion. (Canadian Press)

TSX

Most Active By Trading Volume*

Symbol Price $ Change % Change Volume
RY 58.830 -1.790 -2.95 10,965,147
MIG 0.140 +0.005 +3.70 10,471,170
SRU 1.430 +0.070 +5.15 8,489,725
XLX 0.025 +0.000 +0.00 7,576,760
BBD.B 4.740 +0.050 +1.07 7,021,410
RNG 5.560 -0.070 -1.24 6,385,753
BWR 2.370 +0.080 +3.49 6,218,639
ARU 31.400 -1.700 -5.14 5,703,790
MFC 40.050 +0.330 +0.83 4,849,429
CWM.UN 9.030 +0.630 +7.50 4,699,366
NXY 31.880 -0.200 -0.62 4,608,598
TD 72.320 +1.580 +2.23 4,452,281
TLM 22.000 +0.380 +1.76 4,344,930
OPW 0.100 +0.020 +25.00 3,993,200
SAG 0.055 -0.010 -15.38 3,926,217

TSX VENTURE
Most Active By Trading Volume*

Symbol Price $ Change % Change Volume
FST 1.350 +0.040 +3.05 27,165,960
TYS 0.990 +0.140 +16.47 10,726,884
PIK 0.780 +0.060 +8.33 4,686,631
AGX 0.275 +0.035 +14.58 2,573,523
IXS 0.540 -0.020 -3.57 2,169,745
MAM 0.220 +0.005 +2.33 1,768,000
AMA 0.630 +0.030 +5.00 1,631,900
URC 1.320 +0.230 +21.10 1,446,700
FO 3.350 -0.040 -1.18 1,409,913
IIE 0.105 -0.010 -8.70 1,368,000
CML 1.050 +0.030 +2.94 1,363,678
CBU 0.085 -0.025 -22.73 1,289,358
NRS 1.020 -0.030 -2.86 1,268,666
BN 0.500 +0.000 +0.00 1,189,106
IZN 1.480 -0.020 -1.33 1,188,300

TRADING HALTS/RESUMPTIONS
Trading Halt – Wellco Energy Services Trust – WLL.UN , Pending News
Trading Halt – Strike Petroleum Ltd. – SPP , Pending delisting
Trade Resumption – Evergreen Gaming Corporation – TNA
Trading Halt – Silver Fern Financial Ltd. – SFL.P ,Pending News
Trading Halt – IBI Corp. – IBI ,Pending News
Trading Halt/ Trade Resumption – Excelsior Energy Limited – EXEL
Trading Halt/ Trade Resumption – CanWest Global Communications Corp. – CWM.UN
Trade Resumption – Dynamite Resources Ltd. – DNR
Trading Halt – Russell Breweries Inc. – RB ,Pending News
Trading Halt – Fort Garry Brewing Co Ltd. – FGA ,Pending News
Trading Halt – Radar Acquisitions Corp – RAC ,Pending News
Trade Resumption – St. Genevieve Resources Ltd. – SGVL

NEW LISTINGS
Berkana Energy Corp. To Trade On Toronto Stock Exchange , BEC ,67,497,140 common shares will be issued and outstanding and 6,749,714 common shares will be reserved for issuance, will be listed and posted for trading at the opening on Tuesday, May 29, 2007., AND will be delisted from TSX Venture Exchange prior to the opening on Tuesday, May 29, 2007.

Strategic Resource Acquisition Corporation To Trade On Toronto Stock Exchange , SRZ, SRZ.NT ,28,676,300 shares will be issued and outstanding and 6,708,562 shares will be reserved for issuance upon completion of the initial public offering and the listing of $51,750,000 principal amount of 10% senior secured notes, of which $45,000,000 principal amount of notes will be issued and outstanding and $6,750,000 principal amount of notes will be reserved for issuance upon completion of the initial public offering, will be posted for trading at the opening on Tuesday, May 29, 2007

BioteQ Environmental Technologies Inc. To Trade On Toronto Stock Exchange , BQE, 61,033,056 common shares are issued and outstanding, and 9,855,054 common shares are reserved for issuance, will be listed and posted for trading at the opening on Tuesday, May 29, 2007.and will be delisted from TSX Venture Exchange on May 29, 2007, upon commencement of trading on TSX.

Gold Key Capital Corp To Trade On TSX Venture Exchange , GKY.P , CPC, 2,200,000 common shares at $0.10 per share, At the opening May 28, 2007

reWORKS Environmental Corp. To Trade On TSX Venture Exchange , REW, is the result of a recently completed reverse takeover (the “RTO”) of International Bioanalogics Systems Inc., an unlisted Reporting Issuer of B.C. and Alberta, by reWORKS Inc., a company incorporated in Canada. Number of Shares: 16,938,000 common shares Purchase Price: $0.217 per common share

Warrants: 16,938,000 common share purchase warrants to purchase 16,938,000 shares
Warrant Exercise Price: $0.40 until May 2, 2009
Effective at the opening Monday May 28, 2007

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
“unsubscribe” in the subject line

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: