Market News June 22, 2007

Market closes for Friday, June 22, 2007
Dow Jones 13,360.26 -185.58 or-1.37% +7.20%
S&P 500 1,502.56 -19.63 or -1.29% +5.94%
NASDAQ 2,588.96 -28.00 or -1.07% +7.19%
TSX COMP 13,986.03 -109.70 or -0.78% +8.35%
TSX VENT 3235.09 -16.27
Canadian dollar $Cdn. $U.S.
BoC Closing rate 1.0696 0.9349
Previous BoC closing rate 1.0747 0.9304

Cdn. Dollar/Euro Spot Rate 1.4402 0.6944
Gold AM PM
London Gold Fix (US) $652.00 $652.85

Spot Crude Oil Future(US) $69.14 +$0.49 or +0.71%

NEWS
North American markets were slammed by triple-digit losses on Friday as both Toronto and Wall Street ended a losing week of erratic trading fuelled by rising oil prices and inflation concerns.

Toronto’s S&P/TSX composite index lost 109.7 points to 13,986.03. Since Monday, the TSX has logged three sessions of losses and two of gains, starting the week at 14,137.

So far this month, the Toronto market has been engaged in a tug-of-war between posting higher results and slipping below new records. In June, the market has closed ahead nine times while it has ended down six times. The current record sits at 14,176.42 points set on Monday.

The Canadian dollar wrapped up ahead 0.44 of a cent to 93.49 cents US.
South of the border trading has also been volatile this week with the New York markets all closing down three times and up two times, on fears of higher interest rates and the health of hedge funds. On Wall Street, the Dow Jones industrials were down 185.58 points to 13,360.26. The Nasdaq composite index was down 28 points to 2,588.96 and the S&P 500 index dipped 19.61 to 1,502.58.

On the TSX, all sectors slipped into the red and industrials stocks led the decline, losing 1.19%. Canadian National Railway Co. lost $1.68 to $54.55. Energy stocks slid 0.99% although the light sweet crude contract for August rose 49 cents to US$69.14 a barrel on the New York Mercantile Exchange.

The gold sector was down 0.79%. The August bullion contract on the Nymex rose $2.80 to US$657 an ounce, but down $1.70 for the week.

Further confidence on the future of the U.S. economy couldn’t motivate investors to turn around losses.A report from the International Monetary Fund said U.S. economic activity should pick up for the rest of this year and into 2008 as the drag from a decline in the housing market dissipates. But the IMF warned that growth is uncomfortably close to the 2% “stall speed” associated with past recessions.

The trading session featured the initial public offering of a stake in the management arm of Blackstone Group LP. The most talked-about IPO since Google Inc. values the buyout shop at US$33 billion. Blackstone stock jumped almost 20% in its debut on the New York Stock Exchange.

Media giant CanWest Global Communications and the CanWest MediaWorks Limited Partnership say that the partnership plans to issue US$650 million in 10-year notes as part of its plan to go private. This debt, along with C$950 million in senior secured credit facilities announced earlier this month, will be used to finance the privatization of the CanWest MediaWorks Income Fund and for general corporate purposes. (Canadian Press).

TSX

Most Active By Trading Volume*

Symbol Price $ Change % Change Volume
SAG 0.040 -0.005 -11.11 10,917,267
ZMR 0.215 +0.040 +22.86 9,849,348
BBD.B 6.390 -0.080 -1.24 8,931,554
BWR 2.840 +0.110 +4.03 7,066,372
BCE 40.160 -0.580 -1.42 6,994,346
FAN 0.740 +0.020 +2.78 5,061,315
NRI 0.205 -0.020 -8.89 4,729,541
EQN 3.380 -0.080 -2.31 4,378,323
TIM 5.850 +0.850 +17.00 4,113,942
XLX 0.035 +0.005 +16.67 3,742,300
WTN 2.750 +0.040 +1.48 3,508,930
UTS 6.040 +0.140 +2.37 3,393,601
K 13.510 -0.250 -1.82 3,006,665
TLM 21.460 -0.280 -1.29 2,913,299
UMN 8.410 +0.010 +0.12 2,820,099

TSX VENTURE
Most Active By Trading Volume*

Symbol Price $ Change % Change Volume
BBP 2.400 +0.060 +2.56 10,684,357
SAU 0.080 +0.010 +14.29 3,065,500
GZZ 0.770 +0.150 +24.19 2,097,850
C 1.370 +0.020 +1.48 2,008,540
MCK 0.225 +0.060 +36.36 1,820,000
SA 2.290 +0.110 +5.05 1,817,488
RRM 0.240 +0.030 +14.29 1,717,250
ROI 0.230 +0.010 +4.55 1,706,567
NRS 0.950 -0.340 -26.36 1,632,550
SOR 1.820 +0.180 +10.98 1,611,490
GCL 0.930 +0.060 +6.90 1,517,900
TMG 0.590 +0.060 +11.32 1,314,490
GUL 0.470 +0.090 +23.68 1,300,500
FO 2.560 -0.100 -3.76 1,288,111
R 0.325 +0.025 +8.33 1,273,600

TRADING HALTS/RESUMPTIONS
Trading Halt – Canext Energy Ltd – CXT , Pending News
Trading Halt – Trimox Energy Inc. – TRM.A; TRM.B , Pending News
Trade Resumption – Gastem Inc. – GMR
Trade Resumption – Gulfside Minerals Ltd. – GMG
Trading Halt – Iberian Minerals Corp. – IZN , Pending News

NEW LISTINGS
GlobalBanc Advantaged 8 Split Corp. To Trade On Toronto Stock Exchange GBA , up to 8,625,000 Preferred Shares and up to 8,625,000 Class A Shares of the Company, of which up to 7,500,000 Preferred Shares and up to 7,500,000 Class A Shares will be issued and outstanding, and up to 1,125,000 Preferred Shares and up to 1,125,000 Class A Shares will be reserved for issuance upon completion of an initial public offering (the “Offering”).will be posted for trading at the opening on June 26, 2007.

TeraGo Inc. To Trade On Toronto Stock Exchange TGO , 7,008,943 common shares will be issued and outstanding, and 6,139,370 common shares will be reserved for issuance pursuant to an initial public offering, will be posted for trading at the opening on Tuesday, June 26, 2007

Horizons BetaPro S&P/TSX Global Gold Bull Plus ETF To Trade On Toronto Stock Exchange HGU , 1,002,500 redeemable, transferable Class A units (the “Units”) of the ETF, all of which will be issued and outstanding and none will be reserved for issuance upon completion of an initial public offering., will be posted for trading at the opening on Tuesday, June 26, 2007.

Horizons BetaPro S&P/TSX Global Gold Bear Plus ETF To Trade On Toronto Stock Exchange , HGD , 1,002,500 redeemable, transferable Class A units (the “Units”) of the ETF, all of which will be issued and outstanding and none will be reserved for issuance upon completion of an initial public offering., will be posted for trading at the opening on Tuesday, June 26, 2007.

Anthony Clark International Insurance Brokers Ltd. To Trade On TSX Venture Exchange ACL , are currently listed on Toronto Stock Exchange and will be delisted from trading effective at the close of business on June 22, 2007., Effective at the opening Monday, June 25, 2007, the common shares of the Company will commence trading on TSX Venture Exchange

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