Stockhouse @ the Bell: Markets welcome February with big gains

Today on Stockhouse

Your opinion matters. Submit an article to Stockhouse today at submissions@stockhouse.com. Submission guidelines can be found here.

Louis James & Andrey Dashkov of Casey Research provide a rough guide on how to value a junior miner's gold in the ground.

While Philip H. de Leon of OilPrice.com dissects the political and economic power of Gazprom.

Top Bullboards post: On word that Mag Industries (TSX: T.MAA, Stock Forum) had signed a framework agreement with a Chinese state-owned contractor for its proposed potash project in western Africa, deezy wrote: “I for my part have more confidence and trust if the financing company is from China based on other Chinese take-overs. In the end they come through as they have to work through their various levels of approval and they take their time making very few mistakes in partnering. In this case the various Chinese government levels probably decided better for another Chinese company to partner with MAA. Also are shrewd negotiators.
“The Chinese need potash and having more control of the potash market in the future.”

Top Bullboard: First Gold Exploration (TSX: V.EFG, Stock Forum) received the second-most reads, while MagIndustries (TSX: T.MAA, Stock Forum) collected the third-most posts.

Top blog: littleguy123 explains why gold bullion ETF shrinkage is actually good for the sector in his Outside the Market blog.

For news about small stocks that made big moves in Monday’s trading, please read the Stockhouse Canadian Small and Micro-cap Stock Report.

Word on Wall Street

"The market today has stopped overriding good earnings and economic data, which is good to see," following January's dismal performance, said portfolio manager Bill Stone, of PNC Advisors, in an interview with MarketWatch. "Hopefully, this means the correction has run its course."

Today In The Markets

Stocks surge

DJIA	10,185.53	+118.20
NASDAQ	2,171.20	+23.85
S&P500	1,089.18	+15.31
S&P/TSX	11,312.61	+218.30
S&P/TSX Venture	1,509.70	+17.55

Toronto & New York (The Canadian Press) - The Toronto stock market closed sharply higher as new data made investors feel better about the U.S. economy.

The S&P/TSX composite index surged 218.3 points to 11,312.61. The Canadian dollar was up 0.61 of a cent to 94.13 cents US and oil gained $1.54 to US$74.43 a barrel.

Investors were encouraged by the U.S. Institute for Supply Management's manufacturing index for January, which came in at 58.4, showing stronger expansion than the expected reading of 55.6.

A major loser on the TSX was Cinram International (TSX:CRW.UN), one of the world's biggest DVD manufacturers. Its units plunged $1.75 or 60.14 per cent to $1.16 after Warner Home Video announced it is ending its agreement with the Toronto-based supplier.

New York's Dow Jones industrial average rose 118.2 points to 10,185.53, while the Nasdaq composite index moved 23.85 points higher to 2,171.2 and the S&P 500 index added 15.32 points to 1,089.19.

Please click here for the complete U.S. and Canadian market summaries.

After-Hours News

Anadarko Petroleum (NYSE: APC, Stock Forum)
The diversified energy company announced net income of 46 cents per share, down from its year ago net income of $1.69 per share. Anadarko had fourth quarter revenue of $2.42 billion, a drop from its year ago revenue of $2.93 billion. Analysts expected the company to report a penny a share loss on revenue of $2.36 billion.

Solitaire Minerals (TSX: V.SLT, Stock Forum)
The company announced late on Monday that it had added 13,331 acres to its land holdings in northwestern B.C. Solitaire already holds two parcels of land surrounding Imperial Metal Corp’s (TSX: T.III, Stock Forum) Red Chris copper gold property. The company has entered into option agreements where it can earn 100% interest in its three property units that comprise its Summit Lake Project.