Stockhouse @ the Bell: Stocks down on Euro fears

Today on Stockhouse

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

David Gabel of Oilprice.com discusses whether thorium will ever be adopted as a major energy source.

Top Bullboards post: “The company had announced late on Wednesday evening that it is in takeover talks, but mentioned no specific names. But since Iamgold already holds a twelve percent share and the company would fit with its predominantly African property regionally suited for operational focus of Iamgold, the Canadian gold giant as a contractor quite a candidate. And total assets of Oromin Explorations appear not bad. A feasibility study confirms that the OJVG project in eastern Senegal's annual gold output of 187,000 ounces per year in the first three years of operation and an average flow rate over the entire lifetime of 152,000 ounces. Oromin Explorations is confident that it can increase this amount by at least 33,000 ounces per year.” From socalbernie on the Oromin Explorations (TSX: T.OLE, Stock Forum) board.

Top Bullboard: Connacher Oil and Gas (TSX: T.CLL, Stock Forum) received the most reads and the second-most posts on a day its stock soared more than 50%.

Top blog: balraj_rakhra believes this copper junior is oozing with blue sky potential in the Investment Ideas blog.

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

Word on Wall Street

“Europe is fundamentally broken, so it’s hard for the world to gain confidence when we see a very duct-tape approach,” said Kevin Brungardt, chairperson of RoundPoint Financial Group, in an interview with MarketWatch.

Today In The Markets

Lack of bond-buying plan from European Central Bank sends stocks tumbling

DJIA	11,997.70	-198.67
NASDAQ	2,596.38	-52.83
S&P500	1,234.35	-26.66
S&P/TSX	11,951.79	-196.94
S&P/TSX Venture	1,517.38	-21.83

TORONTO-NEW YORK (The Canadian Press) - The Toronto stock market tumbled about 200 points Thursday amid fading expectations that a summit of European Union leaders will produce a comprehensive fix for the region's debt crisis.

The S&P/TSX composite index fell 196.93 points to 11,951.79 after European Central Bank President Mario Draghi dashed market expectations for aggressive action by the bank to bail out heavily indebted eurozone countries.

The TSX Venture Exchange dropped 21.83 points to 1,517.38.

New York markets also fell heavily with the Dow Jones industrials down 198.67 points to 11,997.7. The Nasdaq composite index dropped 52.83 points to 2,596.38 and the S&P 500 index stepped back 26.66 points to 1,234.35.

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

After-Hours News

Franklin Resources, Inc. (NYSE: BEN, Stock Forum)
Franklin Resources, Inc. reported preliminary month-end assets under management by the company's subsidiaries of $675.8 billion at November 30, 2011, compared to $694.1 billion at October 31, 2011, and $642.3 billion at November 30, 2010.

Peregrine Diamonds Ltd. (TSX: T.PGD, Stock Forum)
Peregrine Diamonds Ltd. Chairman and Chief Executive Officer Eric Friedland reports that he has exercised rights under the rights offering of Peregrine Diamonds completed on December 6, 2011 to acquire deemed beneficial ownership of a total of 2,818,465 common shares of Peregrine, representing 2.5% of the deemed outstanding common shares of Peregrine. Mr. Friedland exercised his rights to purchase 1,878,977 units at $0.85 per unit, each unit consisting of one common share of Peregrine (for a total 1,878,977 common shares acquired) and one-half of a common share purchase warrant (for a total of 939,488 warrant underlying common shares acquired).