Today on Stockhouse
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Jeff Clark of Casey Research explains how and why China will flood the gold market. While Martin Hutchinson of Money Morning wonders if U.S. bank stocks can double again in 2010.
Top Bullboards post: “Khan’s 58% equity stake from the looks of this offer-is considered IMO from the parties behind the offer...null and void with the creation of the joint equity partners to develop DORNID between Russia and Mongolia. Laurentian Bank considered and called DORNOD a $2 billion question mark-looks like Khan’s claim to fame at DORNOD was worth a mere $35 million dollars by comparison-we raised more than that over 2yrs ago in the company’s first secondary offering-$40million was raised at that time,” from shawshank on the Khan Resources (TSX: T.KRI, Stock Forum) board.
Top Bullboard: Coalcorp Mining (TSX: T.CCJ, Stock Forum) received the second-most posts and the third-most reads on a day its stock popped 28%.
Top blog: littleguy123 speculates on the reasons for the robust bounce for precious metals following the Dubai World announcement in his Outside the Market blog.
For news about small stocks that made big moves in Friday’s trading, please read the Stockhouse Canadian Small and Micro-cap Stock Report.
Word on Wall Street
"And just before American Thanksgiving too (in reaction to the news that Dubai's flagship holding company has announced a six month standstill on repayments of its massive debt)," said Doug Porter, deputy chief economist at BMO Capital Markets, in an interview with Canadian Press. "I mean it's really like they were trying to slip in under the radar to some extent."
Today In The Markets
TSX up slightly, N.Y. down sharply amid concerns about Dubai debt fallout
TORONTO, NEW YORK (CP) - The Toronto stock market closed slightly higher Friday as investors tried to take the Dubai credit crisis in stride, hoping that it won't stall the global economic recovery.
The S&P/TSX composite index closed 27.61 points higher at 11,464.41 after tumbling 200 points Thursday in the wake of an announcement that Dubai World, a government investment company, had asked creditors to postpone its forthcoming payments on US$60 billion in debt until May. The TSX Venture Exchange moved down 13.77 points to 1,405.6.
The Dow Jones industrial averaged closed down 154.48 points at 10,309.92 at the end of a shortened session. New York's Nasdaq composite index lost 37.61 points to 2,138.44 while the S&P 500 was down 19.14 points at 1,091.49.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Berens Energy (TSX: T.BEN, Stock Forum) After Friday’s close, the oil and gas explorer/producer announced initial test results from its 15-21-50-12 W5M Pembina Cardium horizontal oil well (Berens 60% working interest), which produced 1,250 bbl/day of oil at the end of a three-day test period. The well will be placed on production in early December, 2009.
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