Manitoba Mining Information

Best week for Canadain Stocks

This past week was the best week for Canadian stocks during the last five months. Stocks rose after after the U.S. cut borrowing costs to prop up the economy and Exxon Corp. reported a record profit. The gain in Canadian stocks was led by Royal Bank of Canada and EnCana Corp.

In the mining sector, Teck Cominco Ltd. rose for the eight day out of nine, amid takeover speculation on base metals miners, gaining C$2.12, or 6.5 percent, while Barrick Gold Corp. fell C$1.17 to C$50.64 along with bullion prices. Alcoa Inc. and Aluminum Corp. of China Ltd. bought a $14 billion stake in Rio Tinto Group in a surprise attempt to derail BHP Billiton Ltd.’s hostile takeover bid for the third-largest mining company.

In the oil and gas sector, EnCana, the biggest natural-gas company in North America, climbed C$1.19 to C$67.38. Imperial Oil Ltd., Canada’s biggest energy company, rose 89 cents to C$50.25 after posting the second- highest quarterly profit in its 128-year history.

Canadian Oil Sands Trust, lead partner in the largest oil- sands miner, gained C$1 at C$39. The stock rose 12 percent in five days, completing its best week since July 2006.

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