U. S. MARKETS MAY 27-JUNE 2

U. S. markets moved up during the May 27-June 2 trading session with the Dow Jones Industrial Average inching up 24 points, or 0.2%, to 12,504; the S&P 500 Index gaining 10 points, or 0.7%, to 1,386; and the tech-heavy NASDAQ advancing 47 points, or 1.9%, to 2,492. Precious metal indices, meanwhile, lost ground on the back of a declining gold price: the Amex Gold Bugs Index declined 16 points, or 3.6%, to 425; and the Philadelphia Gold and Silver Index fell 6 points, or 3.4%, to 182.

It looks as if coal, the Cinderella of fossil fuels, has finally found its glass slipper, as coal issues powered higher during the trading session on news of growing demand and tight supply. In an interview with Reuters news agency, a manager of General Electric’s energy services in Europe said that India and China were building coal-fired power plants at a rate of one a week. Meanwhile, Bloomberg reported that South Africa’s Energy minister, Buyelwa Sonjica, may decide to limit coal exports in order to ease a domestic power shortage.

And in a Dow Jones news wire report, Mark Pervan, senior commodity strategist for Australia and New Zealand Banking Group, predicted that Australia’s benchmark spot price for thermal coal should continue to rise from recent record highs, underpinned by strong demand, and supply constraints. Pervan said that the FOB price for Newcastle thermal coal, at US$151.70 per tonne, was up 10% on the week, 17% on the month, and more than double on the year.

Investors took notice and bid up coal stocks: Patriot Coal jumped US$25.35 to US$119.86; Peabody Energy rose US$4.32 to US$77.52; Alpha Natural Reources rose US$13.32 to US$86.59; Cleveland-Cliffs, a supplier of metallurgical coal and iron ore, climbed US$13.77 to US$107.52; and Massey Energy advanced US$8.85 to US$70.84. Other significant gainers in coal included Foundation Coal Holdings, Consol Energy, Arch Coal, Yanzhou Coal and International Coal.

Staying with energy, but moving to the uranium sector, the spot price for uranium oxide remained at US$60 per lb. On the upside, industry heavyweight Cameco rose US19 to US$41.16 and Uranerz Energy, which has advanced projects in the Wyoming Powder River basin, added US14 to US$3.17.

U. S. most active issues
	VOLUME	WEEK
	(000s) HIGH	LOW	CLOSE	CHANGE
Vale* RIO	126979 40.90	38.88	39.93	-1.08
Alcoa* AA	46955 41.62	39.75	40.63	+ 0.38
Freeport McMo*FCX	42722 119.69	112.88	115.58	-1.61
PotashCSask* POT	39757205.23	188.30	203.18	+ 6.85
CoeurdAlene*CDE	37983 3.32	3.08	3.24	-0.12
Barrick Gold* ABX	34683 41.40	39.09	40.29	-1.58
Peabody Enrgy* BTU	30576 79.00	70.87	77.52	+ 4.32
Goldcorp* GG	28765 41.10	39.43	40.58	-1.52
Gold Fields* GFI	26641 13.56	12.75	12.88	-1.04
Alpha Nat Res* ANR	25069 87.00	71.15	86.59	+ 13.32

U. S. greatest percentage change
		VOLUME	WEEK
		(000s) HIGH	LOW	CLOSE	CHANGE
HomelandPrM*	HPMEF	62 0.12	0.03	0.05	+150.0
Commerce Grp*	CGCO	92 0.30	0.16	0.30	+ 87.5
Silver Dragon*	SDRG	1317 0.20	0.14	0.20	+ 33.3
El Capitan Pr*	ECPN	481 0.17	0.12	0.16	+ 33.3
Radius Gold*	RDUFF	27 0.31	0.23	0.28	+ 21.7
Nevsun Res*	NSU	1986 1.98	1.55	1.95	+ 20.3
GoldMountain*	GMEX	51 0.06	0.05	0.06	+ 20.0
Buckingham Ex*	BUKX	22 0.60	0.35	0.60	+ 20.0
Alpha Nat Res*	ANR	25069 87.00	71.15	86.59	+ 18.1
Cleveland-Cli*	CLF	20940110.83	92.04	107.52	+ 14.6
Geocom Res*	GOCM	81 0.15	0.10	0.10	-33.3
Bullion Rvr G*	BLRV	930 0.12	0.08	0.08	-27.2
Evolving Gold*	EVOGF	34 0.76	0.66	0.69	-25.0
AmMex Gold*	AMXG	415 0.14	0.10	0.10	-23.0
New Jersey Mg*	NJMC	77 0.47	0.38	0.38	-15.5
Uranium Star*	URST	2059 0.14	0.12	0.12	-14.2
Gemini Expl*	GXPI	1327 0.08	0.05	0.06	-14.2
FinMetal Mng*	FNMM	209 0.08	0.05	0.06	-14.2
Golden Phoen*	GPXM	1513 0.22	0.18	0.19	-13.6
Sterling Mini*	SRLM	381 2.12	1.81	1.84	-13.2

U. S. greatest value change
WEEK
	VOLUME	CLOSE	CHANGE
Cleveland-Cli* CLF	20940356	107.52	+ 13.77
Alpha Nat Res* ANR	25069210	86.59	+ 13.32
Massey Energy* MEE	16104134	70.84	+ 8.85
Foundatn Coal* FCL	6521661	70.68	+ 7.79
CONSOL Energy* CNX	15327152	103.22	+ 7.33
Potash C Sask* POT	39756799	203.18	+ 6.85
Mosaic* MOS	24696545	125.81	+ 5.95
Yanzhou Coal* YZC	796275	110.63	+ 5.28
Arch Coal* ACI	22487170	68.06	+ 5.25
Peabody Enrgy* BTU	30576367	77.52	+ 4.32
Rio Tinto* RTP	1362168	485.75	-19.25
AngloGold Ash* AU	9792063	34.76	-4.53
ASA (Bermuda)* ASA	184407	82.20	-4.38
BHP Billi-BHP* BHP	20113945	85.55	-3.95
BHP Bil li-BBL* BBL	3098505	77.24	-3.51
Randgold Res* GOLD	3110762	42.00	-3.27
Lihir Gold* LIHR	822908	29.09	-2.77
Alumina Inc* AWC	758979	21.29	-1.96
Pan Am Silver* PAAS	5132496	32.90	-1.90
Freeport McMo* FCX	42722282	115.58	-1.61