MARKET ACTIVITY/TRADING NOTES FOR DAY ENDING FRIDAY, FEBRUARY 6, 1998 (4)
MARKET ACTIVITY
INDEXES
The Toronto Stock Exchange 300 Composite Index gained 0.5% or 32.17 to 6847.13. In comparison, the Oil & Gas Index gained 0.5% or 31.58 to 6406.97. The Integrated Oil's Index gained 0.8% or 69.71 to 8903.46. The Oil and Gas Producers gained 0.4% or 20.29 to 5616.94. The Oil & Gas Services Index gained 0.5% or 14.56 to 2774.57.
For the week, the Toronto 300 Composite Index gained 146.93 or 2.2%. In comparison, the Oil & Gas Composite Index was weak, gaining 0.7% or 42.62 points.. The Integrated Oil's gained 1.1% or 96.78. The Oil & Gas Producers finished flat for the week, gaining 0.0% or just .77 of a point. The Oil & Gas Services fared much better, climbing 5.0% or 131.44 points.
INDEX CHARTS
TSE 300.......... canoe.quote.com
O&G Composite. chart.canada-stockwatch.com
Integrated Oil's.... chart.canada-stockwatch.com
O&G Producers.. chart.canada-stockwatch.com
O&G Services..... chart.canada-stockwatch.com
NEW PHLX OIL SERVICE SECTOR
bigcharts.com.
lonestar.texas.net
HOT STOCKS
Regina-based Ipsco Inc., a manufacturer of tubular steel, hot rolled steel and plate, reported a 43% jump in income in the fourth quarter. For the period ended Dec. 31, profit rose to $38.1 million ($1.41 a share), compared with $26.6 million (98›) a year ago.Revenue grew 28% to $298.4 million. Increased volume, higher selling prices and stable production costs drove Ipsco's earnings for the year up nearly 60% to $132.2 million ($4.88) from $83.3 million ($3.07). Revenue rose to $1 billion from $804.9 million in 1996. Ipsco shares (IPS/TSE) rose $1.55 Friday to $58.95.
Union Pacific Resources Group Inc said Friday it had purchased 2.53 million common shares of Norcen Energy Resources Ltd for C$19.60 a share on the Toronto Stock Exchange. The purchase is part of Union Pacific's effort to buy all outstanding shares of the Canadian energy company. "As of the close of trading on the TSE today, UPRI beneficially owned a total of 2,530,000 Norcen common shares," a Union Pacific statement said. Union Pacific said the purchase of the Norcen shares was effected through an account established for it by Nesbitt Burns Inc, which is acting as dealer-manager in the offer.
HEGCO Canada finished the week with a $0.47 gain to $2.91. For the week, HEG/ASE shares gained $1.85 on hige volume. Yesterday, the Globe & Mail said the CEO had big expectations for the company. Earlier in the week, the company updated the status of their El Grande well due to numerous inquires.
MOST ACTIVES (Kerm's Listed Companies In Bold Print)
Norcen Energy Resources, Canadian Natural Resources, Renaissance Energy, Poco Petroleums, Hurricane Hydrocarbons, Vermilion Resources, Remington Energy, Gulf Canada Resources, Alberta Energy, Abacan Resources and Talisman Energy were among the top 50 most active issues on the TSE.
Tri Link Resources gained $1.00 to $17.00 and Suncor Energy $0.95 to $49.75.
Percentage gainers included Bittech Petroleum 12.1% to $3.70, Abacan Resources 11.7% to $3.05, International Rochester 9.6% to $1.60, Tri Gas Exploration 9.0% to $1.09, Benson Petroleum 7.1% to $1.50, Elk Point Resources 7.0% to $6.15, Renata Resources 6.7% to $1.28 and Tri Link Resources 6.3% to $17.00.
On the downside, Cabre Exploration fell $0.50 to $18.50, Paramount Resources $0.45 to $14.50 and Talisman Energy $0.45 to $40.90.
Percentage losers included Southward Energy 10.8% to $1.07, Oiltec Resources 9.3% to $2.45, Richland Petroleum 7.2% to $3.85, First Calgary Petroleums 6.5% to $1.00, Founders Energy 4.8% to $1.00 and Profco Resources 4.5% to $1.05.
There were no new 52-week highs.
Founders Energy reached a new 52-week low.
Precision Drilling was the only service company listed among the top 50 most active issues on the TSE.
ATCO II gained $2.10 to $37.75, Ipsco $1.55 to $58.95 and Shaw Industries $1.40 to $45.40.
Percentage gainers included Petro Well Energy 7.8% to $1.25, ATCO II 5.9% to $37.75 and CE Franklin 5.9% to $11.75.
There were no net losers among the top 50 in this category.
Percentage losers included Computer Modeling 12.0% to $1.10.
ATCO II reached a new 52-week high.
Anadime Corp. reached a new 52-week low.
Over on the Alberta Stock Exchange, Dalton Resources, HEGCO Canada, Bearcat Explorations, Stampede Oils, Raptor Capital, Colt Energy, Parkcrest Exploration, Corridor Resources, DeTECH, EMR Microwave, Beaver Lake Resources, Ionic Energy and Plexus Energy were among the most active issues.
Hawk Oil B gained $0.80 to $1.15, HEGCO Canada $0.47 to $2.91, Granger Energy $0.29 to $1.30, Progress Energy $0.25 to $2.25, Western Star Energy $0.25 to $1.30, Petro-Reef Resources $0.24 to $0.74, Parkcrest Exploration $0.15 to $1.50, Proprietary Energy $0.15 to $2.30, Sunburst Oil & Gas $0.15 to $1.00, Global Link International $0.12 to $1.15, Cascade Oil & Gas $0.10 to $0.45, Destiny Resource Services $0.10 to $3.10, Northline Energy $0.10 to $0.70, Niko Resources $0.10 to $4.60, Palmetto Resources $0.10 to $1.20, Plexus Energy $0.10 to $0.80 and Stellarton Energy $0.10 to $4.40.
Percentage gainers included Hawk Oil B 228.6% to $1.15, Petro Reef Resources 48.0% to $0.74, Granger Energy 28.7% to $1.30, Cascade Oil & Gas 28.6% to $0.45, Zorin Exploration 25.0% to $0.25, Western Star Exploration 23.8% to $1.30, HEGCO Canada 19.3% to $2.91, Sunburst Oil & Gas 17.6% to $1.00, Dalton Resources 14.3% to $0.40 and Northline Energy 16.7% to $0.70.
On the downside, Hawk Oil A fell $0.35 to $0.75, Redeco Energy $0.15 to $0.65, Colony Energy $0.10 to $1.60, Red Sea Oil $0.10 to $3.30, Jett Investment $0.09 to $0.81, Syner-Seismic $0.08 to $1.72, Talon Petroleum $0.08 to $0.75 and Real Resosurces $0.07 to $0.73.
Percentage losers included Hawk Oil A 31.8% to $0.75, Redeco Energy 18.8% to $0.65, Quest Energy 14.3% to $0.30, Raptor Capital 10.7% to $0.50, Jett Investment 10.0% to $0.81 and Talon Petroleum 9.6% to $0.75.
Hawk Oil B and Progress Energy reached new 52-week highs.
Circle Energy, Hawk Oil A and NTI Resources reached new 52-week lows.
An excellent summary of most actives covering all four of the Canadian Stock Exchanges can be found at quote.yahoo.com
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