Market News May 28, 2007

Market closes for Monday, May 28, 2007:

Dow Jones 13,507.28 Closed YTD: +8.83%
S&P 500 1,515.73 Closed YTD: +6.87%
NASDAQ 2,557.19 Closed YTD: +5.88%
TSX COMP 14,073.74 +49.67 or +0.35% YTD: +9.03%
TSX VENT 3226.13 -16.07

Canadian dollar $Cdn. $U.S.
BoC Closing rate 1.0803 0.9257
Previous BoC closing rate 1.0794 0.9264

Cdn. Dollar/Euro Spot Rate 1.4535 0.6880

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

Spot Crude Oil Future(US) $64.52 -$0.68 or -1.04

NEWS
The Toronto stock market closed higher Monday with most strength coming from positive corporate news and reports that more bids may be materializing for aluminum giant Alcan Inc.

The S&P/TSX composite index closed up 49.67 points to 14,073.74 as the closure of U.S. markets for Memorial Day resulted in much lower than usual volume with all sectors positive except energy amid falling oil prices.

The showing on the TSX leaves the market 69 points below its record-setting close last Wednesday. Even so, the Toronto market is up about 9% for the year to date.

Shares in Alcan were up $2.60 to $94.25 after the Sydney Morning Herald said Anglo-Australian mining company Rio Tinto PLC may be considering a $27-billion-plus bid for the Montreal-based aluminum company.

And the Globe and Mail reported Norsk Hydro ASA of Norway is preparing a $30-billion-plus bid.
Alcan’s board has already urged shareholders to reject a $33-billion cash-and-shares offer from U.S. competitor Alcoa Inc. on the grounds that the price is too low and completion of the merger is too uncertain

The high-flying Canadian dollar eased 0.07 of a cent to 92.57 cents US a day before the Bank of Canada makes its next announcement on interest rates. The central bank is widely expected to keep rates unchanged.

The TSX energy sector lost 0.26%.
The mining sector rose 1.73% as copper prices rose overseas in response to ongoing strong demand from China.
The telecom sector gained 0.93%.
Shares in Rogers Communications, Canada’s largest cellphone operator and cable TV company, gained $1.17 to $44.62 after the company more than tripled its annual dividend to shareholders up to 50 cents a share and will take a future income tax benefit of $140 million after changing its stock-based compensation.

On the TSX, declines beat advances 803 to 770 with 202 unchanged as 155.4 million shares traded worth $2.15 billion. (Canadian Press)

TSX
Most Active By Trading Volume*

Symbol Price $ Change % Change Volume
SRU 1.460 +0.030 +2.10 8,817,626
OPW 0.135 +0.035 +35.00 8,418,900
SAS.RT 0.005 +0.000 +0.00 5,251,587
MIG 0.135 -0.005 -3.57 3,373,700
FNI 1.570 +0.100 +6.80 3,335,976
BBD.B 4.780 +0.040 +0.84 3,107,788
SAG 0.055 +0.000 +0.00 2,470,975
EQN 3.080 +0.180 +6.21 2,306,744
RNG 5.550 -0.010 -0.18 2,279,180
DY 5.130 +0.260 +5.34 2,002,656
KRY 5.010 +0.340 +7.28 1,756,007
AL 94.250 +2.600 +2.84 1,743,126
CCH 0.135 +0.005 +3.85 1,736,500
BCE 39.490 +0.080 +0.20 1,612,811
BWR 2.420 +0.050 +2.11 1,592,389

TSX VENTURE
Most Active By Trading Volume*

Symbol Price $ Change % Change Volume
HVW 0.030 -0.005 -14.29 3,616,579
PAX 0.770 +0.090 +13.24 2,363,905
AMA 0.740 +0.110 +17.46 2,247,838
TYS 0.940 -0.050 -5.05 1,724,617
FRP 0.820 +0.070 +9.33 1,644,700
SDW 0.350 +0.075 +27.27 1,613,600
FOS 0.580 -0.010 -1.69 1,605,000
KEX 0.360 +0.115 +46.94 1,373,200
YZC 0.240 -0.010 -4.00 1,317,000
URC 1.650 +0.330 +25.00 1,243,200
HSL 1.750 +0.050 +2.94 1,062,800
GCR 1.770 -0.180 -9.23 901,580
RSG 0.200 +0.015 +8.11 839,000
SAM 0.690 +0.010 +1.47 790,100
ABD 0.200 +0.020 +11.11 788,500

TRADING HALTS/RESUMPTIONS
Trade Resumption – Motionsphere Capital Inc. – MSL.H (formerly MSL.P)
Trade Resumption – Naples Capital Corp. – NAP.P
Trade Resumption – Atomic Minerals Inc. – ATL.P
Trade Resumption – Fort Garry Brewing Co Ltd. – FGA
Trade Resumption – Russell Breweries Inc. – RB
Trading Halt – Opawica Explorations Inc. – OPW , Pending News
Trade Resumption – Wellco Energy Services Trust – WLL.UN
NEW LISTINGS
Vena Resources Inc. To Trade On Toronto Stock Exchange ,VEM ,70,533,073 will be issued and outstanding, and 23,065,931 will be reserved for issuance.,will be listed and posted for trading at the opening on Wednesday, May 30, 2007.,AND will be delisted from TSXVN on May 29, 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: