Today on Stockhouse
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Chris Wilson explains why he believes oil sands Crown sales are falling out of favour.
Top Bullboards post: “PEA proves that a mine would be ridiculously profitable ( $1b NPV, just short of 250,000 ounces of production a year over 11 years, with costs around $460/ounce). Great jurisdiction. Significant upside potential/drill results yet to be released. You better believe they are now firmly on the radars of some companies with some very deep pockets. My prediction: PDG isn’t around in 6 months.” From mining4dollars on the Prodigy Gold (TSX: V.PDG, Stock Forum) board.
Top Bullboard: Mart Resources (TSX: V.MMT, Stock Forum) received the second-most reads and posts.
Top blog:Shibbir makes a case for this oil junior in the Canacol Energy cne.to Hits OIL Bigtime in Colombia 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
“We’ll soon see if the rise off the summer low in confidence translates into a good gain in holiday sales,” Peter Boockvar, equity strategist at Miller Tabak, noted in emailed commentary, and reported by MarketWatch.
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Today In The Markets
Toronto stock market rises nearly 123 points in third straight day of gains
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| DJIA |
12,169.65 |
+61.91 |
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| NASDAQ |
2,599.45 |
+21.48 |
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| S&P500 |
1,254.00 |
+10.28 |
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| S&P/TSX |
11,876.48 |
+122.95 |
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| S&P/TSX Venture |
1,443.71 |
+3.96 |
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TORONTO-NEW YORK (The Canadian Press) - Gains on the Toronto stock market accelerated into triple digits Thursday, pushing the index to its third consecutive positive close.
The S&P/TSX composite index was 122.95 points higher at 11,876.48 as traders' spirits were lifted by positive signs about the state of the U.S. economy amid a slowdown in trading ahead of the holiday season.
The Dow Jones average moved 61.9 points higher to 12,169.7. The Nasdaq index added 21.5 points to 2,599.5 and the broader S&P 500 index gained 10.3 points to 1,254.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Houston Wire & Cable Co. (NASDAQ: HWCC, Stock Forum)
Houston Wire & Cable Co. announced that, in accordance with its previously announced succession plan, the board of directors has named James L. Pokluda III, President of the Company, to the additional position of Chief Executive Officer and elected Mr. Pokluda to the company's board, effective January 1, 2012. Mr. Pokluda will replace Charles A. Sorrentino, the company's current CEO, who as previously reported, will resign from the Board and retire as chief executive officer at year end.
Shear Diamonds Ltd. (TSX: V.SRM, Stock Forum)
Shear Diamonds Ltd. announced that the Nunavut Water Board ("NWB") issued a positive decision on the water license application for the Jericho Diamond Mine. The NWB has recommended to the Minister of Aboriginal Affairs Northern Development Canada (AANDC) that an eight year Type A water license be issued to its wholly-owned subsidiary, Shear Diamonds (Nunavut) Corp., covering the re-commissioning, operation and ultimate reclamation of the Jericho Diamond project. The previous water license for the Jericho Diamond mine was for a total of six years.
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