Stockhouse @ the Bell: Stocks soar on bank moves

Today on Stockhouse

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Peter Kennedy reports on why he believes BHP is putting this Canadian junior in a tough spot in his Stockhouse Short Report.

Top Bullboards post: “The derivative loss is a crappy IFRS accounting standards implementation. Basically, Silvercrest has to post a loss or a gain when the gold spot price changes on everything they got hedged. However, for all the hedging, they earn $927 which is greater than their production costs of about $350. So, they will make the planned cash amount regardless of that derivative stuff. The derivative loss/gain is the difference between gold spot price and their hedging price ($927) between two reporting periods, multiplied by the units remaining to be delivered. It's the equivalent of what Silvercrest would have to pay if they were unable to deliver gold and instead had to buy it on the market … All in all, the derivative gain/loss for Silvercrest is an accounting artifact and while the hedging limits earning upside to about $550 per ounce until it's fully reimbursed, there is no other risk associated with it.” From Capharnaum on the SilverCrest Mines (TSX: V.SVL, Stock Forum) board.

Top Bullboard: Orbite Aluminae (TSX: T.ORT, Stock Forum) received the most reads and posts on a day its share price rose more than 6%.

Top blog: FoxTek1 profiles a micro cap stock with a billionaire’s support in the FOXTEK'S FIND blog.

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

Word on Wall Street

"It's the first time we've seen this type of global coordination since November 2008," said Michael James, a senior equity trader at Wedbush Morgan, in an interview with CNNMoney. "The degree of coordination sends a message to the markets that global leaders are going to do whatever they need to do to instill confidence in the markets."

Today In The Markets

TSX jumps 472 points as global central banks move to ease credit strains

DJIA	12,045.68	+490.05
NASDAQ	2,620.34	+104.83
S&P500	1,246.96	+51.77
S&P/TSX	12,204.11	+471.61
S&P/TSX Venture	1,548.45	+43.44

TORONTO-NEW YORK (The Canadian Press) - The Toronto stock market surged almost 500 points Wednesday after the Bank of Canada joined other central banks in taking co-ordinated action to support a global financial system severely stressed by the European debt crisis.

The S&P/TSX composite index ran ahead 471.67 points or four per cent to 12,204.17, while the TSX Venture Exchange moved up 43.43 points to 1,548.45.

U.S. markets also took off with the Dow industrials jumping 489.07 points to 12,044.7, the Nasdaq gained 104.83 points to 2,620.34 and the S&P 500 index rose 51.75 points to 1,246.94 .

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

After-Hours News

Krispy Kreme Doughnuts, Inc. (NYSE: KKD, Stock Forum)
Krispy Kreme Doughnuts, Inc. reported financial results for the third quarter of fiscal 2012, ended October 30, 2011. The Company also raised its outlook for fiscal 2012 and provided preliminary guidance for fiscal 2013. Revenues in the quarter rose 9.4% to $98.7 million from $90.2 million. Net income was $4.7 million ($0.07 per share diluted) compared to $2.4 million ($0.03 per share diluted) in the third quarter last year

Oro Mining Ltd. (TSX: V.OGR, Stock Forum)
Oro Mining Ltd. announced that the Company and its subsidiaries Oro Gold de Mexico S.A. de C.V., Minera Oro Silver de Mexico S.A. de C.V. have entered into a definitive option and joint venture agreement with DFX Exploration Ltd. and its subsidiary Grupo Promotor Minero, S.A. de C.V. (collectively the "DFX Parties") whereby the DFX Parties have been granted an option to acquire 100% interest in certain assets located in Mexico.