Stockhouse @ the Bell: Fed rate decision boosts markets

Today on Stockhouse

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Jason Simpkins wrote about the scramble to claim natural resources assets in Africa.

As Daily Wealth’s Tom Dyson makes the case that the regulation of tobacco has enriched tobacco companies.

Thom Calandra writes about a junior miner with connections to Osisko (TSX: T.OSK, Stock Forum) in his subscribers-only Ticker Trax.

Meanwhile, Fawzia Sheikh of Oilprice.com explains how a controversial bill before the parliament in Nigeria could benefit Angola.

Top Bullboards post: In a post assessing the value of Compton Petroleum (TSX: T.CMT, Stock Forum), natgasbull wrote: “It's true that $14 for a proven plus probable barrel is quite possible for this company. It seems there is some confusion as to what their reserves actually are. CMT uses an American engineering firm which a lot of the instituitons have frowned on over the last few years. CMT took a major hair cut last year in reserve value. The analogy you use is not great as the CMT assets are all in Alberta but M&A metrics here are about the same for p plus p reserves. Let's watch and see what ITX's assets sell for and then we can start getting excited about take out value for CMT. If ITX gets over $3.00 then yes we can reasonably expect north for $4 for CMT. That's a long way from .92 but accurate in terms of value.”

Top Bullboard: After word that First Gold Exploration (TSX: V.EFG, Stock Forum) continued to intersect mineralization in drilling at its Lac Pivert/Rse property in Quebec helped drive traffic to its Bullboard Tuesday.

Top blog: In the Portfolio Additons blog, MikeKiss explains the benefits of owning a certain junior gold stock

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

Word on Wall Street

Kansas City Federal Reserve Bank president Thomas “"Hoenig was the only dissenter at the meeting; however, we believe that with the information in hand as of right now, the Fed is likely to alter its language somewhat at the upcoming Fed meeting. This position is, of course, open to change," said Dan Greenhaus, chief economic strategist at Miller Tabak in an interview with Marketwatch.

Today In The Markets

Stock markets advance as interest rates remain low

DJIA	10,685.98	+43.83
NASDAQ	2,378.01	+15.80
S&P500	1,159.46	+8.95
S&P/TSX	12,089.40	+80.60
S&P/TSX Venture	1,578.53	+17.02

Toronto & New York (The Canadian Press) - North American stock markets moved ahead Tuesday afternoon following reassurance from the U.S. Federal Reserve that interest rates will stay at historic lows for a while yet.

The S&P/TSX composite index gained 80.6 points to 12,089.40 supported by rising commodity and financial stocks.

The TSX Venture Exchange was 17.02 points higher at 1,578.53.

The Dow Jones industrial average rose 48.83 points to 10,685.98.

Other New York markets advanced following the Fed announcement amid data out earlier in the session that showed lower housing starts.

The Nasdaq composite index climbed 15.80 points to 2,378.01 while the S&P 500 index edged nine points higher to 1,159.46.

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

After-Hours News

Discover Financial Services (NYSE: DFS, Stock Forum)
The credit card company said that it lost $104 million in its latest financial quarter. On a per share basis, the company lost $122 million or 22 cents per share, down from its year ago net loss of $196 million or 41 cents per share. As well, the company said it had received regulatory approval to redeem the $1.2 billion of preferred stock that it issued to the U.S. Treasury on the TARP Capital Purchase program.

Novus Gold (TSX: V.NOV, Stock Forum)
The company announced that it had engaged Canaccord Financial to assist it with the sale and distribution of up to 7.5 million flow-through shares at a price of 40 cents each. The terms of an earlier private placement announcement by the company have been superseded by these new arrangements. Previously Novus gold planned to offer up to 10 million flow through shares at 40 cents per unit, with each unit consisting of one non flow through share and one half of one warrant. The warrant would entitle the bearer to buy a additional non flow through share for 60 cents for a period of two years.