Market News June 1, 2007

Market closes for Friday, June 1, 2007:

Dow Jones 13,668.11 +40.47 or +0.30% YTD: +9.67%
S&P 500 1,536.34 +5.72 or +0.37% YTD: +8.32%
NASDAQ 2,613.92 +9.40 or +0.36% YTD: +8.22%
TSX COMP 14,119.37 +62.59 or +0.45% YTD: +9.38%
TSX VENT 3274.87 +33.18
Canadian dollar $Cdn. $U.S.
BoC Closing rate 1.0613 0.9422
Previous BoC closing rate 1.0696 0.9349

Cdn. Dollar/Euro Spot Rate 1.4267 0.7009

Gold AM PM
London Gold Fix (US) $662.50 $666.50

Spot Crude Oil Future(US) $65.08 +$1.07 or +1.67

NEWS
The Toronto stock market finished the session and the week higher Friday as U.S. data provided reassurance on the economy and Stelco Inc. shares jumped after the steelmaker confirmed it’s for sale.

The Canadian dollar also topped 94 cents US Friday and some economists believe it will hit par with the U.S. greenback by year’s end.

Stelco made huge gains on the market Friday, surging 18.7% to close at $31.20 after disclosing it is reviewing “strategic options” amid consolidation in the global steel industry.

New York markets also rose higher on the positive news on U.S. job creation, manufacturing and spending but off early highs with key indexes hitting new all-time highs.

Toronto’s S&P/TSX composite index advanced 62.59 points to 14,119.37, led by advances in energy and mining stocks, for a gain of 95.3 points this week.

The Canadian dollar continued to strengthen following the Bank of Canada’s indication earlier in the week that it will likely raise interest rates later in the year to deal with inflation.

The currency was up 0.73 of a cent to 94.22 cents US, its highest level since July 1977, and economists expect it to head higher. At one point in the session, the currency hit 94.36 cents US.

CIBC World Markets predicted that the dollar will be worth as much as the greenback by the end of the year. It is already up about 9% this year.

In New York, the Dow Jones industrials moved up 40.47 points to another record high of 13,668.11 after the U.S. Labour Department reported that the economy cranked out 157,000 jobs in May, the most in two months.

Economists had been looking for 140,000 jobs. The unemployment rate held steady at 4.5%.
The Nasdaq composite index rose 9.4 points to 2,613.92 and the S&P 500 index gained 5.72 points to a new record high of 1,536.34.

In other economic news, the Commerce Department reported Friday that American incomes slipped 0.1% in April, while consumer spending rose by a strong 0.5%.

On the TSX, the energy sector rose 1% as the July contract for crude oil on the New York Mercantile Exchange added $1.07 to $65.08 a barrel.

The mining sector rose 0.87%.
The August bullion contract on the New York Mercantile Exchange climbed $10.20 to $676.90 an ounce, taking the gold sector up 1.44%.

On the TSX, advances beat advances 23 to 641 with 238 unchanged, as 401.6 million shares traded worth $7 billion.(Canadian Press)

TSX
Most Active By Trading Volume*

Symbol Price $ Change % Change Volume
DY 5.120 +0.050 +0.99 26,543,232
BBD.B 5.540 +0.220 +4.14 10,606,263
SRU 1.360 -0.110 -7.48 9,002,490
DDS 3.220 -3.520 -52.23 8,223,797
LIM 28.360 -0.380 -1.32 6,757,491
BCE 39.770 +0.300 +0.76 6,509,135
K 14.460 +0.190 +1.33 6,408,896
G 26.040 +0.310 +1.20 6,300,169
ABX 31.200 +0.120 +0.39 5,820,126
ELD 6.370 +0.260 +4.26 4,504,023
TIO 0.145 +0.015 +11.54 4,300,157
P 0.435 -0.115 -20.91 4,282,586
TLM 22.200 +0.600 +2.78 4,031,130
IMG 8.150 +0.350 +4.49 3,819,770
YRI 14.880 +0.610 +4.27 3,737,633

TSX VENTURE
Most Active By Trading Volume*

Symbol Price $ Change % Change Volume
PE 0.055 +0.025 +83.33 10,092,889
GCL 0.630 +0.310 +96.88 9,690,388
PVI 0.035 +0.000 +0.00 5,006,000
PIK 0.790 +0.030 +3.95 3,508,165
CMV 0.330 +0.050 +17.86 3,216,750
AGX 0.310 +0.000 +0.00 2,587,750
ROI 0.245 +0.025 +11.36 2,401,857
FO 3.650 +0.000 +0.00 2,228,979
SRI 0.465 +0.070 +17.72 2,184,632
VCG 0.115 +0.025 +27.78 1,958,000
SDN 0.220 +0.070 +46.67 1,951,850
HLR.UN 5.350 -0.150 -2.73 1,944,000
ADM 3.350 +0.150 +4.69 1,842,650
CML 1.060 +0.040 +3.92 1,707,855
ZED 0.920 +0.050 +5.75 1,705,250

TRADING HALTS/RESUMPTIONS
Trade Resumption – Flagship Industries Inc. – FII
Trading Halt – TG World Energy Corp – TGE , Pending News
Trading Halt/ Trade Resumption – Railpower Technologies Corp. – P. P.WT
Trading Halt – Surge Resources Inc – SRH.H ,Pending News
Trading Halt – Suroco Energy Inc. – SRN ,Pending News
Trade Resumption – Redzone Resources Ltd. – REDZ
Trade Resumption – Immersive Media Corp – IMC
Trading Halt/ Trade Resumption – Stelco Inc. – STE
Trade Resumption – Hanwei Energy Services Corp. – HE
Trade Resumption – Coronation Minerals Inc. – CMV
Trading Halt/ Trade Resumption – Nurun Inc. – NUR
Trading Halt – Minterra Resource Corp. – MTR ,Pending News
Trade Resumption – Loon Energy Inc. – LEY
Trade Resumption – Holloway Lodging R.E. Investment Trust – HLR.UN HLR.DB
Sources include Advisors.ca, TSX.com, Canadian Press, Yahoo Finance,
Stockhouse.com
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