Market closes for Thursday, Aug. 28, 2008:

Close Change YTD
Dow Jones 11,715.18 +212.67 or +1.85% -11.68%
S&P 500 1,300.68 +19.02 or +1.48% -11.42%
NASDAQ 2,411.64 +29.18 or +1.22% -9.07%
TSX COMP 13,750.48 +219.83 or +1.62% -0.60%
TSX VENT 1963.85 +13.03

BoC Close Today Previous
Canadian $ 0.9507 0.9553
US $ 1.0519 1.0468

Euro Spot Rate Today Previous
Cdn 0.6469 0.6489
Euro 1.5458 1.5410
Gold AM PM
London Gold Fix (US) $832.00 $838.25

Spot Crude Oil Future(US$) $115.59 -$2.56 or -2.17%
Silver 13.71 +0.11
Copper 3.40 -0.04
Nat Gas 8.08 +0.03

News Summary

Bank stocks were responsible for a triple-digit advance on the Toronto Stock Exchange on Thursday as the latest series of earnings reports from the country's big banks encouraged investors, despite dramatically lower profits for most of them.

New York markets also made strong headway thanks to revised figures showing greater than expected U.S. economic growth in the second quarter.

Toronto's S&P/TSX composite index moved up 219.83 points to 13,750.48 on top of Wednesday's 232-point surge. The financial sector was up 4% on hopes that the worst of the writedowns that have slashed profits are over -- a view not shared by all.

"I think that some people are trying to figure out some bottoming process and they might have come in here and come in early -- or they may feel a trading stance is warranted," said Andrew Martyn of Davis Rea Ltd.

"Sometimes it just takes a lack of horrendous news to allow something to fall back up. If you push a spring down hard enough, it will snap back at you almost every time, even one that's pretty rusty and old."

TD Bank shares moved ahead $3.22 to $62.56, despite a huge decline in profitability. Lower net income at its wholesale banking operations -- due to turmoil in the financial markets -- cut its third-quarter profit by 9.6% to $997 million. TD also raised its quarterly dividend to 61 cents from 59 cents per common share.

Royal Bank says its net income in its third quarter fell 10% or $133 million from a year ago to $1.26 billion. Profit was reduced primarily by writedowns at RBC's capital markets arm and by provisions for bad loans and writedowns in its U.S. banking arm. Its shares were $2.83 higher to $48.13.

And National Bank of Canada shares jumped $1.93 to $50.43 after it said its third quarter net income rose to $286 million, up 18% from a year earlier -- a company record for the period.

The TSX Venture Exchange index rose 13.93 points to 1,963.85 while the Canadian dollar was down 0.46 cent to 95.07 cents U.S. as Statistics Canada reported that the country's current account surplus with the rest of the world expanded to $6.8 billion in the second quarter, led by exports of goods.

New York's Dow Jones industrials ran ahead 212.67 points to 11,715.18. The Nasdaq composite index climbed 29.18 points to 2,411.64 while the S&P 500 index added 19.02 points to 1,300.68.

The U.S. Commerce Department reported that gross domestic product increased at a 3.3% annual rate in the April-June quarter. The revised reading was much better than the government's initial estimate of a 1.9% pace and beat economists' expectations for a 2.7% growth rate thanks to higher U.S. exports and tax rebates.

But analysts cautioned the pace will likely slow dramatically later in the year.
"Weighing together likely slowdowns in export growth and consumer spending, and the continued troubles in the banking and housing sectors, forecasters expect GDP growth to slow to about 1.5% in the third quarter and to near zero in the fourth," observed Peter Morici, a business professor at the University of Maryland.

The TSX energy sector finished off earlier lows, about 0.25% despite worries that tropical storm Gustav could threaten oil and natural gas infrastructure in the Gulf of Mexico.

The October crude contract on the New York Mercantile Exchange slid $2.56 to US$115.59 a barrel. But oil prices had moved up for the last three sessions, rising 7% during that time to US$120.50 a barrel earlier in the morning.

Some oil market watchers attributed Thursday's drop to speculation that the U.S. government could release supplies from the Strategic Petroleum Reserve to counter any drop in production from Gustav.

On the TSX, advances beat declines 944 to 586 with 243 unchanged as 354.4 million shares traded worth $6.2 billion. (The Canadian Press)

TSX
Most Active

PTC Petaquilla Copper ltd 2.18 0.00 0.00% 14,182,627
GBS GBS Gold International Inc 0.20 -0.17 -45.95% 13,983,545
HEG Homeland Energy Group 1.31 +0.36 +37.89% 12,113,162
UUU Uranium One Inc 4.31 +0.16 +3.86% 11,638,650
BBD.B Bombardier Inc 7.97 +0.35 +4.59% 8,266,846
RY Royal Bank of Canada 48.13 +2.83 +6.25% 7,736,702
BWR Breakwater Resources ltd 0.36 +0.07 +24.56% 4,664,896
ELR Eastern Platinum Ltd 1.57 +0.03 +1.95% 4,405,056
TD Toronto-Dominion Bank 62.56 +3.22 +5.43% 3,864,183
S Sherritt International Corp 9.43 +0.08 +0.86% 3,726,305
BMO Bank of Montreal 46.15 +0.59 +1.29% 3,691,815
YRI Yamana Gold Inc 11.46 +0.01 N/A 3,458,808
ECA EnCana Corp 79.17 +0.49 +0.62% 3,440,095
K Kinross Gold Corp 17.76 +0.31 +1.78% 3,403,990
BCE BCE Inc 40.21 +0.24 +0.60% 3,324,525

TSX Venture
Most Active

KWG KWG Resources Inc 0.04 -0.01 -11.11% 6,704,500
CGK Gold Hawk Resources Inc 0.08 +0.02 +23.08% 4,200,410
HAT Hathor Exploration Ltd 4.04 +0.43 +11.91% 2,638,187
NWT NWT Uranium Corp 0.08 -0.01 -5.88% 1,798,000
VRB VRB Power Systems Inc 0.06 -0.02 -21.43% 1,691,170
SGX Sage Gold Inc 0.16 +0.02 +10.34% 1,667,500
BUK Bridge Resources Corp 0.93 -0.02 -2.11% 1,486,525
MAA MagIndustries Corp 1.96 +0.04 +2.08% 1,353,080
CQV Canadian Imperial Venture Corp 0.05 0.00 0.00% 1,340,800
FOS Phoscan Chemical Corp 1.01 +0.06 +6.32% 1,116,600
TAS Terra Ventures Inc 0.94 +0.02 +2.17% 1,063,825
RPT RPT Uranium Corp 0.23 +0.02 +9.52% 1,059,000
ELE Excelsior Energy Ltd 0.19 -0.01 -2.63% 1,001,008
LGO Largo Resources Ltd 0.43 -0.02 -4.44% 979,100
IBI IBI Corp 0.03 +0.01 +25.00% 870

Trading Halts/Resumptions
Trading Halt - Axmin Inc. - AXM - Company Request Pending News
Trade Resumption - Terra Ventures Inc. - TAS
Trade Resumption - Hathor Exploration Ltd. - HAT
Trade Resumption - Birch Mountain Resources Ltd. - BMD, BMD.DB

New Listings:

Active Growth Capital Inc To Trade On TSX Venture Exchange,CPC, ACK.P , 3,750,250 common shares at 20 cents per share, At the opening Friday, Aug. 29, 2008, the common shares will commence trading on the TSX Venture Exchange

Market closes for Wednesday, Aug. 27, 2008:

 

        Close   Change  YTD    
Dow Jones       11,502.51       +89.64 or +0.79%        -13.29%
S&P 500 1,281.66        +10.15 or +0.80%        -12.71%
NASDAQ  2,382.46        +20.49 or +0.87%        -10.17%
TSX COMP        13,530.65       +231.58 or +1.74%       -2.19% 
TSX VENT     1949.92   +7.92
BoC Close       Today   Previous       
Canadian $      0.9553  0.9538 
US $    1.0468  1.0484 

Euro Spot Rate  Today   Previous       
Cdn     0.6489  0.6515 
Euro    1.5410  1.5349 

Gold    AM      PM     
London Gold Fix (US)    $833.50 $827.00

Spot Crude Oil Future(US$)      $118.25 +$1.98 or +1.70%       
Silver                    13.52          +0.05
Copper                   3.44           +0.03
Nat Gas                  8.39           +0.12

News Summary

The Toronto stock market finished sharply higher Wednesday as banks reacted positively to CIBC's earnings report and investors snapped up energy stocks on stronger crude oil prices.

Financials also helped take New York indexes higher, as did a much better showing in durable goods orders in July. Toronto's S&P/TSX composite index moved up 231.58 points to 13,530.65.

The financial sector ran ahead 2.5% after CIBC reported that net income fell to $71 million for the third quarter, down from $835 million for the same period last year as the bank was hit with more losses connected with the American housing sector. Diluted earnings per share were 11 cents, down from $2.31 a year ago.

Still, it was a big improvement from CIBC's $1.1-billion loss in the previous quarter. The bank recorded an after-tax loss of $596 million or $1.56 per share from its structured credit run-off activities and its shares improved $3.04 to $60.10.

"First of all, it's CIBC's first profit in three quarters," said Fred Ketchen, manager of equity trading at Scotia Capital. "It's a lot of relief on the fact that it looks like they have written down almost everything they had to write down. You can assume -- maybe, I hope -- that the worst is perhaps behind CIBC now. And they can move on and get into a profitable business."

The results came on the heels of disappointing earnings reports from Bank of Montreal and Scotiabank on Tuesday. Scotiabank moved up $1.05 to $47.50 and BMO ran ahead $1.62 to $45.56.

The TSX Venture Exchange was up 7.32 points to 1,949.92 while the Canadian dollar moved up 0.15 to 95.53 cents US.
The Dow Jones industrials rose 89.64 points to 11,502.51 after the U.S. Commerce Department reported that durable goods orders jumped a bigger-than-expected 1.3% in July, led by gains in aircraft. Economists had expected a gain of just 0.1%.

Outside of transportation, orders posted a 0.7% increase, surpassing the 0.3% decline analysts had expected.
The Nasdaq composite index moved up 20.49 points to 2,382.46 while the S&P 500 index was up 10.15 points to 1,281.66.
The Toronto energy sector rose almost 2% as the October crude contract on the New York Mercantile Exchange moved up $1.88 US$118.15 a barrel on worries that Tropical Storm Gustav may disrupt oil and gas operations in the Gulf of Mexico.

The price also found support from data showing that U.S. crude supplies fell unexpectedly last week.
Petro-Canada said it has restarted a key piece of equipment at an Edmonton refinery that had been shut down in early August, resulting in fuel shortages at gas stations across British Columbia and Alberta and its shares rose 89 cents to $46.99.

Transeuro Energy Corp. and Questerre Energy have announced they are testing the natural gas potential of deep shale the Liard Basin, in northeastern British Columbia.

The two companies are each half-owners of two existing shale gas well, which have been operated by Questerre over the past two years, and plant to drill even deeper wells in the area. Transeuro shares jumped 12.5 cents to 39.5 cents while Questerre shares gained 60 cents to $3.05.

The base metals sector was up 2.2% as Teck Cominco Ltd. advanced $1.11 to $42.50 and Sherritt International headed up 44 cents to $9.35.

The gold sector was also a support, up 2.2% as the December bullion contract on the Nymex rose $5.90 to US$834 an ounce. Barrick Gold Corp. moved up $1.02 to $37.02.

On the TSX, advances beat declines 872 to 622 with 226 unchanged as 336.7 million shares traded worth $6 billion. (The Canadian Press)

TSX

Most Active

                                               
PTC     Petaquilla Copper ltd   2.18    0.00    0.00%   12,053,107     
UUU     Uranium One Inc 4.15    +0.29   +7.51%  11,136,790     
S       Sherritt International Corp     9.35    +0.44   +4.94%  7,542,768      
BCE     BCE Inc 39.97   +0.08   +0.20%  6,550,947      
BBD.B   Bombardier Inc  7.62    +0.11   +1.46%  6,157,293      
GEA     Gold Eagle Mines Ltd    11.94   +0.11   +0.93%  5,283,662      
OPC     OPTI Canada Inc 18.16   +0.27   +1.51%  4,878,843      
HEG     Homeland Energy Group Ltd       0.95    0.00    0.00%   4,369,700      
CM      Canadian Imperial Bank of Commerce      60.10   +3.04   +5.33%  4,161,255      
NEM     Neo Material Technologies  Inc  3.15    +0.20   +6.78%  4,022,340      
CTI     Chemokine Therapeutics Corp     0.07    -0.01   -6.67%  3,638,265      
MFC     Manulife Financial Corp 36.76   +0.81   +2.25%  3,537,258      
YRI     Yamana Gold Inc 11.45   +0.23   +2.05%  3,523,324      
BNS     Bank of Nova Scotia     47.50   +1.05   +2.26%  3,499,192      
G       Goldcorp Inc    35.79   +0.64   +1.82%  3,193,963      
QEC     Questerre Energy Corp   3.05    +0.60   +24.49%         3,134,804      

TSX Venture

Most Active

                                               
GEL     Glass Earth Gold Ltd    0.05    +0.01   +25.00%         5,720,200      
OM      OneMove Technologies Inc        0.07    +0.01   +7.69%  4,451,000      
TSU     Transeuro Energy Corp   0.40    +0.13   +46.30%         3,873,255      
CMM     Century  Mining Corp    0.05    +0.01   +25.00%         3,453,385      
CNS     Canoro Resources Ltd    0.72    +0.09   +14.29%         2,867,989      
PIO     Pioneering Technology Inc       0.02    +0.01   +100.00%        2,722,552      
ADD     Arctic Star Diamond Corp        0.12    +0.02   +20.00%         2,109,300      
KWG     KWG Resources Inc       0.05    -0.01   -10.00%         1,898,350      
LGO     Largo Resources Ltd     0.45    -0.03   -6.25%  1,482,800      
WPX     Western Potash Corp     0.71    -0.07   -8.97%  1,375,625      
RSG     Searchgold Resources Inc        0.06    +0.01   +9.09%  1,356,500      
FGT     Forest Gate Resources Inc       0.04    -0.01   -22.22%         1,260,000      
PCQ     Petrolympic Ltd 0.52    +0.10   +23.81%         1,224,800      
CCZ     CriticalControl Solutions Corp  0.15    -0.01   -6.25%  1,089,000      
SOR     Solana Resources Ltd    4.70    +0.10   +2.17%  1,035,129      

Trading Halts/Resumptions

Trade Resumption - SCHNEIDER POWER INC. - SNE (formerly 'Water Capital Inc.' - 'WCP.P')
Trade Resumption - BOWMORE EXPLORATION LTD - BOW (formerly 'Peterborough Capital Corp.' - 'PEC')
Trading Halt - Birch Mountain Resources Ltd. - BMD, BMD.DB - Pending News
Trading Halt/ Trade Resumption - Rusoro Mining Ltd. - RML
Trading Halt/ Trade Resumption - Gold Reserve Inc. - GRZ
Trading Halt - Terra Ventures Inc. - TAS - Pending News
Trading Halt - Hathor Exploration Ltd. - HAT - Pending News
Trade Resumption - Gammon Gold Inc. - GAM

 

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

Market closes for Tuesday, Aug 26, 2008

 

        Close   Change  YTD    
Dow Jones       11,412.87       +26.62 or +0.23%        -13.96%
S&P 500 1,271.51        +4.67 or +0.37% -13.41%
NASDAQ  2,361.97        -3.62 or -0.15% -10.95%
TSX COMP        13,299.07       +10.11 or +0.08%        -3.86% 
TSX VENT       1942.60    +2.59

BoC Close       Today   Previous       
Canadian $      0.9538  0.9516 
US $    1.0484  1.0509 

Euro Spot Rate  Today   Previous       
Cdn     0.6515  0.6450 
Euro    1.5349  1.5505 

Gold    AM      PM     
London Gold Fix (US)    $809.75 $827.00

Spot Crude Oil Future(US$)      $116.25 +$1.14 or +0.99%       
Silver                   13.56             -0.02
Copper                   3.42             -0.05
Nat Gas                  8.29             EVEN

News Summary:

The Toronto stock market closed little changed Tuesday as energy stocks advanced alongside oil prices, but bank stocks softened following earnings disappointments from two of Canada's big banks.

Meanwhile, New York markets were mainly higher following Monday's sharp losses despite the pop in oil prices, more dreadful housing news and indications from the U.S. Federal Reserve that interest rates could be headed higher.

Toronto's S&P/TSX composite index rose 10.11 points to 13,299.07 while investors also considered indications of yet lower economic growth.

The Bank of Nova Scotia shares fell $1.19 to $46.45 as profits fell by 2% to $1.01 billion in the third quarter on credit losses and lower capital markets revenue. Its shares

And shares in Bank of Montreal closed down 12 cents to $43.94 after the bank reported that profit fell 21% from a year ago to $521 million. CIBC reports Wednesday and its shares gave back 85 cents to $57.06.

Elsewhere in the sector, National Bank of Canada said it would sell its majority stake in Asset Management Finance Corp. to Credit Suisse Group. It expects a $65-million gain on transaction. National shares backed off 66 cents to $46.86.

The TSX Venture Exchange edged up 2.59 points to 1,942.6 while the Canadian dollar was up 0.22 cent to 95.38 cents US.
New York's Dow Jones industrials moved up 26.62 points to 11,412.87 after concerns about U.S. banks took the blue chip index down 242 points.

The Nasdaq composite index was off 3.62 points to 2,361.97 while the S&P 500 index up 4.67 points to 1,271.51 after minutes from the U.S. Federal Reserve's August meeting indicated that most Fed officials didn't believe that the central bank's key interest rate was too low given harder-to-get credit conditions straining consumers and businesses alike.

And looking ahead, the next direction for rates is probably up, according to the documents.
On the economic front, the U.S. Commerce Department reported that sales of new homes posted an unexpected gain in July as heavily discounted properties enticed cautious house hunters to become home buyers. Sales rose by 2.4%.

At the same time, the Standard & Poor's/Case-Shiller U.S. National Home Price Index tumbled a record 15.4% during the quarter from the same period a year ago.

In Canada, the Bank of Canada suggested that second-quarter growth will now be even weaker than the tepid 0.8% projection it made last month.

The TSX energy sector rose 1.4% as oil prices climbed on concerns Hurricane Gustav may disrupt oil operations in the Gulf of Mexico.

The October crude contract on the New York Mercantile Exchange moved up $1.16 to US$116.27 a barrel and EnCana Corp. climbed $2.45 to $77.60 and Canadian Natural Resources advanced $1.45 to $87.55. In New York, ExxonMobil advanced $1.24 to US$79.95.

The information technology sector also weighed on the TSX, losing 1.5% with Nortel Networks down 39 cents to $5.85.
The Toronto base metals sector was down slightly even as Australia-based mining giant Rio Tinto Ltd. said Tuesday that half-year profit more than doubled to a record US$6.91 billion on strong demand from China for iron, aluminum and other metals.

On the TSX, declines beat advances 778 to 724 with 216 unchanged as 298 million shares traded worth $4.9 billion. (The Canadian Press)

TSX
Most Active

                                               
PTC     Petaquilla Copper ltd   2.18    +0.29   +15.34%         16,188,075     
UUU     Uranium One Inc 3.86    +0.34   +9.66%  11,279,233     
ELR     Eastern Platinum Ltd    1.51    -0.07   -4.43%  7,553,468      
GEA     Gold Eagle Mines Ltd    11.83   -0.01   N/A     7,256,339      
NT      Nortel networks Corp    5.85    -0.39   -6.25%  5,207,680      
 BBD.B  Bombardier Inc  7.51    +0.15   +2.04%  4,640,098      
S       Sherritt International Corp     8.91    -0.34   -3.68%  4,210,059      
YRI     Yamana Gold Inc 11.22   -0.18   -1.58%  3,953,832      
BMO     Bank of Montreal        43.94   -0.12   -0.27%  3,624,543      
CJB     ConjuChem Biotechnologies Inc   0.11    -0.01   -4.35%  3,562,440      
BCE     BCE Inc 39.89   +0.01   N/A     3,121,268      
BNS     Bank of Nova Scotia     46.45   -1.19   -2.50%  3,050,295      
G       Goldcorp Inc    35.36   -0.01   N/A     2,913,993      
RY      Royal Bank of Canada    44.13   -1.01   -2.24%  2,637,079      
SU      Suncor Energy Inc       59.15   -0.17   -0.29%  2,579,286      

TSX Venture
Most Active

                                               
CMM     Century  Mining Corp    0.04    -0.01   -11.11%         8,780,750      
PLL     Palladon Ventures Ltd   0.67    +0.07   +11.67%         2,701,666      
BBP     Bayou Bend Petroleum Ltd        0.31    -0.02   -4.62%  1,666,875      
GEL     Glass Earth Gold Ltd    0.04    -0.03   -38.46%         1,629,800      
HAT     Hathor Exploration Ltd  3.58    +0.23   +6.87%  1,381,058      
KWG     KWG Resources Inc       0.05    0.00    0.00%   1,302,500      
FGT     Forest Gate Resources Inc       0.05    0.00    0.00%   1,181,000      
LEC     Lignol Energy Corp      0.31    -0.06   -16.22%         1,175,000      
NRS     Norwood Resources Ltd   1.00    0.00    0.00%   1,116,500      
FO      Falcon Oil & Gas ltd    0.83    0.00    0.00%   1,077,358      
BOB     Global Hunter Corp      0.07    -0.03   -26.32%         1,068,000      
ROI     Route 1 Inc     0.04    -0.01   -12.50%         1,067,500      
SOR     Solana Resources Ltd    4.60    +0.30   +6.98%  997,455        
LST.H   Landmark Global Financial Corp  0.01    -0.01   -66.67%         971,889        
SLG     Sterling Resources Ltd  2.20    +0.19   +9.45%  876,034

Trading Halts/Resumptions:

Trade Resumption - PANDA CAPITAL INC. - PDA.P
Trade Resumption - PROSPECTOR CONSOLIDATED RESOURCES INC. - PRR
Trade Resumption - AXIOTRON CORP. - AXO (formerly 'Vendome Capital Corp.' - 'VCC.H')
Trade Resumption - 540 CAPITAL CORP. - FA.P
Trading Halt/ Trade Resumption - Rubicon Minerals Corp. - RMX
Trade Resumption - Lomiko Res Ltd. - LMR
Trade Resumption - Kingsway Financial - KFS

New Listings
Claymore Global Infrastructure ETF To Trade On Toronto Stock Exchange,ETF, CIF  CIF.A , 100,000 common units (the “Common Units”) and 50,000 advisor class units (the “Advisor Class Units”) of the Claymore ETF (collectively, the “Units”), all of which will be issued and outstanding, upon the completion of an initial public offering. The Units will be posted for trading at the opening on August 27, 2008.

Alston Ventures Inc. To Trade On TSX Venture Exchange, CPC, ALO.P , 1,217,500 common shares at $0.20 per share, At the opening August 27, 2008, the Common shares will commence trading on TSX Venture Exchange.

 

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

Market closes for Monday, Aug. 25, 2008:

 

        Close   Change  YTD    
Dow Jones       11,386.25       -241.81 or -2.08%       -14.16%
S&P 500 1,266.84        -25.36or -1.96% -12.00%
NASDAQ  2,365.59        -49.12 or -2.03%        -10.81%
TSX COMP        13,288.96       -158.33 or -1.18%       -3.93% 
TSX VENT     1940.01     -11.62
BoC Close       Today   Previous       
Canadian $      0.9516  0.9537 
US $    1.0509  1.0486 

Euro Spot Rate  Today   Previous       
Cdn     0.6450  0.6455 
Euro    1.5505  1.5491 

Gold    AM      PM     
London Gold Fix (US)    $830.00 $824.00

Spot Crude Oil Future(US$)      $115.17 +$0.58 or +0.51%       
Silver                  13.46            +0.09
Copper                  3.46            EVEN
Nat Gas                7.91            +0.09

News Summary:

Worries about the financial sector helped send North American stock markets sharply lower Monday. Toronto's S&P/TSX composite index dropped 158.33 points to 13,288.96 as the TSX financial sector was down 1.77% ahead of quarterly earnings coming out this week from the big Canadian banks.

New York's Dow Jones industrial average fell 241.81 points to 11,386.25. The Nasdaq composite index moved down 49.12 points to 2,365.59 while the S&P 500 index gave back 25.36 points to 1,266.84.

"I think the key here of course is that the retail banking operations of these banks at least remain stable because that, to me, is the backbone of these banks," said Gareth Watson, associate director and Canadian equity adviser at Scotia Capital. "A lot of the problems that have occurred have been more on the investment banking side and so retail banking is going to be something which should be focused on."

Bank of Montreal fell 88 cents to $44.06 while Scotiabank gave back 96 cents to $47.64. Both banks report earnings Tuesday.

The TSX Venture Exchange slipped 11.62 points to 1,940.01 while the Canadian dollar drifted 0.21 of a cent lower to 95.16 cents US.

In New York, AIG was the steepest decliner among the 30 stocks that make up the Dow industrials after a Credit Suisse analyst cut his price target on the huge insurer. Also, Fitch Ratings warned last week that it might cut its ratings on the company. AIG shares were down $1.09 to US$18.78.

Falling oil stocks also kept a lid on the TSX as oil prices steadied after tumbling almost US$7 on Friday.
The energy sector receded 0.6% as the October crude contract on the New York Mercantile Exchange gained 52 cents to US$115.11 a barrel with Petro-Canada down 60 cents to $46.15 while Suncor Energy fell $1.04 to $59.32.

Precision Drilling Trust units fell 99 cents to $21.24 after the company said it has reached a deal to buy Houston-based gas driller Grey Wolf, Inc. in exchange for the equivalent of C$2.1 billion in cash and equity.

The deal gives Precision land drilling operations in virtually every oil and gas basin in the lower 48 United States and Canada, and an emerging presence in Mexico.

The TSX industrial sector stepped back 1.2% with Canadian National Railway off 40 cents to $52.78. The railway said Monday it has addressed the local concerns of one of the communities along the Elgin, Joliet & Eastern Railway line that it wants to buy in order to improve its operations in the Chicago area.

CN says that its deal with Joliet will include a significant investment in track improvements and roadway features along the route through the city -- so long as the deal goes through.

On the TSX, declines beat advances 867 to 616 with 222 unchanged as 226.6 million shares traded worth $3.9 billion. (The Canadian Press)

TSX
Most Active

                                               
Q       Q9 Networks Inc 16.73   +3.71   +28.49%         5,957,615      
ELR     Eastern Platinum Ltd    1.58    0.00    0.00%   4,430,929      
BBD.B   Bombardier Inc  7.36    -0.29   -3.79%  4,201,624      
CJB     ConjuChem Biotechnologies Inc   0.12    +0.02   +21.05%         4,127,500      
YRI     Yamana Gold Inc 11.40   +0.03   +0.26%  3,635,505      
GEA     Gold Eagle Mines Ltd    11.84   +0.08   +0.68%  2,996,169      
CSM     Central Sun Mining Inc  0.67    +0.07   +11.67%         2,990,126      
G       Goldcorp Inc    35.16   +0.08   +0.23%  2,913,246      
UUU     Uranium One Inc 3.52    -0.05   -1.40%  2,830,079      
VT      Viterra Inc     11.15   -0.20   -1.76%  2,677,952      
ELD     Eldorado Gold Corp      8.09    +0.07   +0.87%  2,536,834      
BCE     BCE Inc 39.88   -0.01   N/A     2,431,697      
PD.UN   Precision Drilling Trust        21.24   -0.99   -4.45%  2,386,323      
K       Kinross Gold Corp       17.18   -0.20   -1.15%  2,289,940      
ABX     Barrick Gold Corp       36.08   -0.23   -0.63%  2,277,149      

TSX Venture:
Most Active

                                               
KWG     KWG Resources Inc       0.05    +0.01   +25.00%         5,912,000      
GNO     Genoil Inc      0.21    -0.01   -2.33%  2,558,445      
BDO     Bordeaux Energy Inc     0.03    +0.01   +25.00%         1,657,000      
LGO     Largo Resources Ltd     0.50    -0.04   -7.41%  1,588,892      
ADD     Arctic Star Diamond Corp        0.11    +0.02   +16.67%         1,368,000      
VRB     VRB Power Systems Inc   0.08    -0.02   -21.05%         1,344,900      
VGN     Greencastle Resources Ltd       0.35    -0.02   -4.11%  1,286,980      
AAM     Atacama Minerals Corp   0.91    -0.04   -4.21%  1,266,800      
DOT     DOT Resources Ltd       0.03    -0.02   -33.33%         902,478        
BBP     Bayou Bend Petroleum Ltd        0.33    +0.01   +1.56%  868,234        
HAT     Hathor Exploration Ltd  3.35    -0.15   -4.29%  786,166        
VCG     VenCan Gold Corp        0.05    +0.01   +11.11%         719,300        
SPQ     Spider Resources Inc    0.07    -0.01   -6.67%  709,900        
AAE     AAER Inc        0.19    -0.03   -11.63%         699,800        
MAA     MagIndustries Corp      1.96    -0.06   -2.97%  645,96 

Trading Halts/Resumptions
Trading Halt - Kingsway Financial Services Inc. - KFS - Pending News
Trading Halt/ Trade Resumption - Falcon Oil & Gas Ltd. - FO
Trading Halt/ Trade Resumption - Terra Ventures Inc. - TAS
Trading Halt/ Trade Resumption - Hathor Exploration Ltd. - HAT
Trading Halt - Lomiko Res Ltd. - LMR - Pending News
Trading Halt - Chrysalis Capital VII Corporation - SEV.P - Pending News

 

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

Market closes for Friday, Aug. 22, 2008:

 

        Close   Change  YTD    
Dow Jones       11,627.00       +196.79 or +1.72%       -12.35%
S&P 500 1,292.20        +14.48 or +1.13%        -12.00%
NASDAQ  2,414.71        +34.33 or +1.44%        -8.96% 
TSX COMP        13,447.29       -91.93 or -0.68%        -2.79% 
TSX VENT        1951.63   +1.95
BoC Close       Today   Previous       
Canadian $      0.9537  0.9579 
US $    1.0486  1.0440 

Euro Spot Rate  Today   Previous       
Canadian $      0.6455  0.6432 
Euro    1.5491  1.5547 

Gold    AM      PM     
London Gold Fix (US)    $830.00 $824.00

Spot Crude Oil Future(US$)      $114.77 -$6.41 or -5.29%       

Silver               13.48     -0.25

Copper              3.46     -0.08

Nat Gas             7.84      -0.41

News Summary:

The Toronto stock market closed lower Friday as commodity stocks retreated, particularly in the energy sector, after two days of strong gains.

The oil and gas stocks were the biggest decliners as crude oil pulled back from Thursday's big runup.
Toronto's S&P/TSX composite index moved down 91.93 points to 13,447.29 after a burst of higher oil prices helped send the main index up almost 500 points in the previous two sessions.

"What has really led a lot of this is the commodity prices having a bit of a bounce -- and we have had a pretty serious correction in those prices," observed Julie Brough, vice president at Morgan, Meighen and Associates. "You do tend to get a bounce off the bottom of those -- and that's what we're seeing."

The Toronto market had a rare positive week, gaining 350.59 points or 2.67% on rising mining and energy stocks. It was only the second positive week in the past nine weeks.

The TSX Venture Exchange added 1.95 points to 1,951.63, while the Canadian dollar was off 0.42 cent to 95.37 cents U.S.

The drop in crude, combined with hopes that investment bank Lehman Brothers will be sold, helped send New York markets higher.

New York's Dow Jones industrial average gained 197.85 points to 11,628.06. The Nasdaq composite index moved up 34.33 points to 2,414.71 while the S&P 500 index rose 14.48 points to 1,292.2.

Investors were focused on the financial sector after the Globe and Mail cited a Royal Bank of Canada memo to brokers that it is in settlement talks with U.S. regulators over its role in the troubled market for auction-rate securities.

The market for these securities, whose rates were reset at periodic auctions, collapsed in February.
New York Attorney-General Andrew Cuomo has already forced seven other banks to buy back almost $50-billion worth of auction-rate securities from small investors and pay $360-million in fines. Royal shares were ahead 72 cents to $46.

Also, CI Financial Income Fund confirmed it has had discussions with a number of parties concerning possible strategic combinations. Its shares ran ahead $1.14 to $22.11

Overall, the TSX financial sector rose 1.35% as investors brace for the big banks to deliver quarterly earnings reports next week. Other advancers included CIBC, ahead 95 cents to $59.38.

Elsewhere in the financial sector, investors were digesting a media report that Korea Development Bank is considering buying investment bank Lehman Brothers. Its shares gained 69 cents $ to US$14.41.

"If JPMorgan can get Bear Stearns for US$10 (a share), who says (the Korean bank) can't get Lehman Brothers at a crazy discount?" Brough said.

The Toronto energy sector fell 2.35% as the price of oil surrendered all of Thursday's US$5.62 advance on a weak U.S. dollar. The greenback revived Friday and the October crude contract on the New York Mercantile Exchange moved down $6.59 to US$114.59 a barrel.

The gold sector moved down 3% as the December bullion contract in New York declined $5.50 to US$833.50. The base metals sector declined 1% as HudBay Minerals shrank 29 cents to $11.11.

In other corporate news, Russian conglomerate OAO Severstal plans to acquire a US$1.3-billion Pennsylvania coal business through a transaction that involves the purchase of a Canadian-listed corporation.

Severstal Resources is offering C$8.30 per share for Penfold Capital Acquisition Corp., in order to acquire PBS Coals Corp, a private company registered in British Columbia which mines metallurgical and thermal coal in Pennsylvania. Penfold hasn't traded since May 14 and its stock is worth 21 cents.

On the TSX, declines beat advances 787 to 636 with 253 unchanged as 273 million shares traded worth $4.5 billion. (THE CANADIAN PRESS

 

TSX
Most Active

 

                                               
SCP     Sprott Resource Corp    3.43    -0.02   -0.58%  10,061,465     
ELR     Eastern Platinum Ltd    1.58    -0.03   -1.86%  8,139,348      
LUN     Lundin Mining Corp      5.26    -0.06   -1.13%  6,549,596      
YRI     Yamana Gold Inc 11.37   -0.63   -5.25%  5,589,201      
TIM     Timminco Ltd    15.90   +0.91   +6.07%  3,794,875      
BCE      BCE Inc        39.89   -0.01   -0.03%  3,778,224      
NXY     Nexen Inc       33.04   -0.28   -0.84%  3,509,613      
G       Goldcorp Inc    35.08   -1.43   -3.92%  3,308,507      
BBD.B   Bombardier Inc  7.65    +0.13   +1.73%  3,224,669      
S       Sherritt International Corp     9.54    -0.15   -1.55%  3,210,564      
TLM     Talisman Energy Inc     18.42   -0.79   -4.11%  3,157,144      
ACU     African Cooper PLC      0.20    +0.01   +2.56%  2,891,000      
K       Kinross Gold Corp       17.38   -0.66   -3.66%  2,861,902      
ABX     Barrick Gold Corp       36.31   -1.19   -3.17%  2,823,072      
KRY     Crystallex International Corp   1.20    -0.02   -1.64%  2,809,785      

TSX Venture
Most Active

 

                                               
SWN     Selwyn Resources Ltd    0.13    0.00    0.00%   2,965,124      
GAP     PharmaGap Inc   0.15    +0.03   +25.00%         2,753,700      
SPQ     Spider Resources Inc    0.08    +0.01   +15.38%         1,292,500      
MAA     MagIndustries Corp      2.02    -0.07   -3.35%  1,149,320      
PBR     Probe Resources Ltd     0.74    +0.12   +19.35%         1,125,125      
KWG     KWG Resources Inc       0.04    0.00    0.00%   1,101,000      
ANM      Antares Minerals Inc   2.30    +0.04   +1.77%  1,096,820      
PXX     Pearl Exploration and Production Ltd    1.69    -0.01   -0.59%  940,941        
CEN     Coastal Energy Company  3.00    0.00    0.00%   906,300        
NAG     North American Gem Inc  0.18    0.00    0.00%   904,500        
SYA     Syscan International Inc        0.04    +0.02   +100.00%        757,000        
VGN     Greencastle Resources Ltd       0.37    +0.04   +10.61%         713,200        
ZPP     Zongshen PEM Power Systems Inc  1.17    +0.11   +10.38%         640,750        
PDE     Palo Duro Energy Inc    0.12    -0.01   -4.00%  590,500        
PCQ     Petrolympic Ltd 0.41    -0.04   -8.89%  553,100

Trading Halts/Resumptions:

 

Trade Resumption - COUNTERPATH CORPORATION - CCV
Trading Halt/Trade Resumption - Coro Mining Corp. - COP
Trade Resumption - La Imperial Resources Inc. - LAMP
Trading Halt/ Trade Resumption - CIX Split Corp. - CXC & CXC.PR.A
Trading Halt /Trade Resumption - CI Financial Income Fund - CIX.UN

 

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