| Friday, 25 May 2012Blair Price WHILE European political leaders are struggling to find a solution for debt-stricken Greece, there is hope that global markets will start to recover from the recent selloff in commodities and resource stocks.
| Oil Search Limited |
OSH |
14.00 |
14.00 |
0.00 |
0.00% |
| Marengo Mining Limited |
MGO |
0.50 |
0.50 |
0.00 |
0.00% |
| New Britain Palm Oil |
NBO |
24.00 |
24.00 |
0.00 |
0.00% |
| InterOil Limited |
IOC |
90.00 |
90.00 |
0.00 |
0.00% |
| Steamships Trading Companies Limited |
SST |
5.00 |
5.00 |
0.00 |
0.00% |
| New Guinea Energy |
NGE |
0.15 |
0.15 |
0.00 |
0.00% |
| Highlands Pacific Limited |
HIG |
0.50 |
0.50 |
0.00 |
0.00% |
| Kina Asset Management Limited |
KAM |
0.95 |
0.95 |
0.00 |
0.00% |
| |
|
|
|
|
|
| Triple Plate Junction |
TPJ |
2.08 |
2.08 |
0.00 |
0.24% |
| Regency Mines |
RGM |
2.05 |
1.95 |
-0.10 |
-4.88% |
| |
|
|
|
|
|
| TSX-listed companies |
TSX code |
Last week'sclose ($C) |
Last tradetoday ($C) |
Variance ($C) |
Variance % |
| Vangold Resources |
VAN-V |
0.03 |
0.04 |
0.01 |
16.67% |
| Talisman Energy |
TLM.TO |
10.05 |
10.36 |
0.31 |
3.08% |
| Nautilus Minerals |
NUS.TO |
2.11 |
2.13 |
0.02 |
0.95% |
| New Guinea Gold |
NGG-V |
0.01 |
0.01 |
0.00 |
0.00% |
| Marengo Mining |
MRN.TO |
0.19 |
0.18 |
-0.01 |
-5.26% |
| Madison Minerals |
MMR-V |
0.09 |
0.08 |
-0.01 |
-5.88% |
| LNG Energy |
LNG-V |
0.06 |
0.06 |
-0.01 |
-8.33% |
| Papuan Precious Metals |
PAU-V |
0.04 |
0.04 |
-0.01 |
-12.50% |
| Eaglewood Energy |
EWD.TO |
0.26 |
0.22 |
-0.04 |
-15.69% |
| |
|
|
|
|
|
| InterOil |
IOC |
55.22 |
62.33 |
7.11 |
12.88% |
| Exxon Mobil Corporation |
XOM |
81.47 |
82.61 |
1.14 |
1.40% |
| |
|
|
|
|
|
| Indochine Mining |
IDC |
0.12 |
0.135 |
0.02 |
12.50% |
| Highlands Pacific |
HIG |
0.14 |
0.15 |
0.01 |
7.41% |
| Quintessential Resources Ltd |
QRL |
0.14 |
0.15 |
0.01 |
7.14% |
| Bougainville Copper |
BOC |
0.70 |
0.72 |
0.02 |
2.86% |
| Cue Energy |
CUE |
0.24 |
0.24 |
0.01 |
2.13% |
| New Guinea Energy |
NGE |
0.05 |
0.05 |
0.00 |
1.96% |
| Kina Petroleum Ltd |
KPL |
0.35 |
0.35 |
0.01 |
1.45% |
| Oil Search |
OSH |
6.59 |
6.69 |
0.09 |
1.44% |
| Bright Star Res Ltd (Tasman Goldfields) |
BUT |
0.08 |
0.08 |
0.00 |
0.00% |
| Horizon Oil |
HZN |
0.27 |
0.27 |
0.00 |
0.00% |
| Resource Mining |
RMI |
0.00 |
0.00 |
0.00 |
0.00% |
| Marengo Mining |
MGO |
0.17 |
0.17 |
0.00 |
0.00% |
| Newcrest Mining |
NCM |
25.03 |
24.97 |
-0.06 |
-0.24% |
| Mincor Resources NL |
MCR |
0.675 |
0.67 |
-0.01 |
-0.74% |
| Santos |
STO |
11.96 |
11.76 |
-0.20 |
-1.67% |
| Pacific Niugini Ltd |
PNR |
0.29 |
0.285 |
-0.01 |
-1.72% |
| Frontier Resources |
FNT |
0.08 |
0.08 |
0.00 |
-2.53% |
| Liquefied Natural Gas Limited |
LNG |
0.32 |
0.31 |
-0.01 |
-3.13% |
| Allied Gold |
ALD |
1.66 |
1.58 |
-0.08 |
-4.53% |
| Gold Anomaly |
GOA |
0.01 |
0.01 |
0.00 |
-9.09% |
| CopperMoly Limited |
COY |
0.04 |
0.04 |
0.00 |
-6.98% |
| Kula Gold |
KGD |
0.7 |
0.63 |
-0.07 |
-10.00% |
| MIL Resources |
MGK |
0.01 |
0.01 |
0.00 |
-11.11% |
| Goldminex |
GMX |
0.08 |
0.07 |
-0.01 |
-12.50% |
| Niuminco Group Ltd |
NIU |
0.055 |
0.04 |
-0.02 |
-27.27% |
| Orchid Capital Ltd/Fund |
ORC |
Trading halt |
Trading halt |
Trading halt |
Trading halt |
|
In his morning report, Bell Potter managing director Charlie Aitken observed that European equities turned around overnight despite a bad start.
“We could be at the point where sellers/shorters are exhausted,” he said.
He also commented on the fears of a Greek exit from the euro currency block.
“My personal view is that fears of ‘Grexit’ are priced in, yet Grexit ain’t going to happen.
“Every European leader and Central banker knows that Grexit isn’t an option due to the unknown contagion consequences.
“So while we bobble along the bottom between now and the Greek elections [June 17], and the full scale EU summit [June 28-29] I continue to believe the right course of action is to buy grossly cheap global and local growth stocks, and risk.”
While Aitken remains bullish, there have been mixed performances on our watchlists this week and key commodities are yet to impress.
Copper prices have remained the most resilient amid the fear gripping global markets.
London Metal Exchange cash copper closed at $7655.5 a tonne overnight, down just 0.6% from the end of last week.
By the same comparison, LME spot nickel gained 1.6% to at $17,032/t overnight. But this price still represents dangerous territory for nickel mines while copper prices remain high.
The Asia Pacific benchmark of Singapore Tapis crude closed at $114.51 a barrel overnight – slipping less than half a percent for this week so far.
Spot gold prices were trading around $1553.10 an ounce in early afternoon trading (AEST). This is a 2.5% fall from the end of last week.
Despite the global economic uncertainties, InterOil’s shares climbed almost 13% for this week. Aside from further expectations of the Triceratops-2 well in Papua New Guinea, investors are awaiting a breakthrough deal to bring in a new operator for the Gulf LNG project.Click here to read the rest of today's news stories. |
