Market News May 29, 2007

Market closes for Tuesday, May 29, 2007:

Dow Jones 13,521.34 +14.06 or +0.10% YTD: +8.49%
S&P 500 1,518.11 +2.38 or +0.16% YTD: +7.04%
NASDAQ 2,572.06 +14.87 or +0.58% YTD: +6.49%
TSX COMP 13,962.72 -111.02 or -0.79% YTD: +8.17%
TSX VENT 3207.55 -18.58
Canadian dollar $Cdn. $U.S.
BoC Closing rate 1.0735 0.9315
Previous BoC closing rate 1.0803 0.9257

Cdn. Dollar/Euro Spot Rate 1.4438 0.6926
Gold AM PM
London Gold Fix (US) $657.60 $660.15

Spot Crude Oil Future(US) $63.15 -$2.05 or -3.14

NEWS
The Toronto stock market stalled after two days of gains Tuesday, losing just over 100 points as energy and mining stocks retreated and investors took in a strong hint from the Bank of Canada that an interest rate hike may be needed “in the near term” to keep inflation under control.

That word sent the Canadian dollar surging to close past the 93-cent US level for the first time in almost 30 years.
The loonie closed up 0.58 of a cent to 93.15 cents US after going as high as 93.36 cents for the first time since September 1977. The Bank of Canada also announced it’s leaving its key interest rate unchanged at 4.25%.

The currency has risen about 8.7% this year, partly in the belief that the central bank will raise interest rates later this year. It has also been supported by a string of positive economic reports, higher commodity prices and corporate acquisition activity that has boosted demand for Canadian dollars.

Lower oil prices helped boost New York markets, along with more takeover activity and data that showed consumer confidence bounced back unexpectedly in May.

Toronto’s S&P/TSX composite index dropped 111.02 points to 13,962.72, with investors largely unfazed over the prospect of an interest rate hike, which analysts say could come as soon as July.

Losses were led by energy and mining companies and all but two sectors were lower.
The TSX energy sector lost 1.35 cent as oil prices fell Tuesday, reflecting hopes that the inauguration of a new president in OPEC member Nigeria would contribute to stability in the market. Light sweet crude for July delivery fell $2.05 to $63.15 a barrel on the New York Mercantile Exchange.

The mining sector also ticked 1.35%.
The gold sector declined 1.35% even as the June bullion contract in New York moved up $1.90 to $657.20 an ounce.
On the TSX, declines beat advances 1,046 to 583 with 234 unchanged as 365.9 million shares traded worth $6.3 billion.(Canadian Press)

TSX
Most Active By Trading Volume*

Symbol Price $ Change % Change Volume
BBD.B 5.360 +0.580 +12.13 44,788,435
SRU 1.310 -0.150 -10.27 9,965,309
EQN 3.140 +0.060 +1.95 8,538,518
BCE 39.470 -0.020 -0.05 7,097,317
ELR 2.330 -0.030 -1.27 6,269,179
OPW 0.115 -0.020 -14.81 5,162,945
BWR 2.320 -0.100 -4.13 4,892,509
ICE.UN 12.170 +0.840 +7.41 4,675,142
FDG.UN 30.990 -0.510 -1.62 4,502,632
SLW 11.550 -0.280 -2.37 3,958,495
RY 58.440 -0.610 -1.03 3,927,313
FNI 1.530 -0.040 -2.55 3,915,428
TD 73.470 +0.970 +1.34 3,888,583
MFC 40.060 -0.300 -0.74 3,836,347
BNS 54.250 +0.500 +0.93 3,791,629

TSX VENTURE
Most Active By Trading Volume*

Symbol Price $ Change % Change Volume
IBI 0.050 +0.005 +11.11 9,771,000
WSR 0.530 +0.170 +47.22 4,986,440
IZN 1.480 +0.060 +4.23 3,435,424
TYS 0.900 -0.040 -4.26 2,620,741
APH 0.155 +0.015 +10.71 2,318,375
IXS 0.550 +0.030 +5.77 2,283,500
PIK 0.760 -0.010 -1.30 2,085,881
SAM 0.680 -0.010 -1.45 2,026,399
SGR 1.060 -0.070 -6.19 1,748,604
PXC 0.110 -0.020 -15.38 1,597,250
GCR 1.700 -0.070 -3.95 1,595,999
CBU 0.140 +0.060 +75.00 1,552,200
CYP 0.400 -0.035 -8.05 1,491,383
AGX 0.285 +0.020 +7.55 1,400,320
KLA 0.105 +0.025 +31.25 1,338,200

TRADING HALTS/RESUMPTIONS
Trade Resumption – Great Quest Metals Ltd. – GQ
Trading Halt – WEX PHARMACEUTICALS INC. – WXI , Pending News
Trading Halt – Paramount Energy Trust – PMT.UN (ALL ISSUES) , Pending News
Trading Halt – Baytex Energy Trust – BTE.UN (ALL ISSUES) , Pending News
Trading Halt – Western Prospector Group Ltd. – WNP , Pending News
Trading Halt – Immersive Media Corp. – IMC , Pending News
Trading Halt/ Trade Resumption – El Nino Ventures Inc. – ELN
Trading Halt – Agritech Capital Inc. – AGH.P , Pending News
Trading Halt/Trade Resumption – PreMD Inc. – PMD
Trade Resumption – IBI Corp – IBI
Trading Halt – Cuda Capital Corp. – CDP.P . Pending News
Trade Resumption – Opawica Explorations Inc. – OPW

NEW LISTINGS
Capital BLF Inc. To Trade On TSX Venture Exchange , BLF.P , CPC, 7,500,000 common shares at $0.20 per share, at the opening Tuesday, May 29, 2007, upon confirmation of closing.

Fronsac Capital Inc. To Trade On TSX Venture Exchange , GAZ.P , 1,200,000 common shares at $0.25 per share, at the opening Tuesday, May 29, 2007.

Groupworks Financial Corp. To Trade On TSX Venture Exchange , GWC, 6,300,000 common shares at $0.60 per share, At the opening May 30, 2007.

Coopers Park Corporation To Trade On TSX Venture Exchange , XCP , 846,947 common shares and
80,141,453 non-voting common shares are issued and outstanding.
Escrowed Shares: 257,131 common shares , Effective at the opening May 30, 2007
Galena Capital Corp. To Trade On TSX Venture Exchange , FYI.P , 2,000,000 common shares at $0.10 per share, At the opening May 30, 2007

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