Mining Sector Pushes
VSE Composite Higher
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The Vancouver Stock Exchange Composite Index climbed above
the 1300 plateau for the first time in eight months as the market pushed the prices of VSE
mineral exploration companies higher in active trading.
The Composite Index closed at 1329.13 on February 28 for a gain of 38 points on the day.
This was the largest one day gain in the VSE Composite Index since 1987.
Mining companies were responsible for a large portion of this increase, accounting for
nine of the top 10 gaining issues by per cent. The top five gainers by per cent for
February were: First Silver Reserve Inc (+300%); Empyrean Diagnostics Ltd. (+181%);
President Mines Ltd. (+171%); Alamos Minerals Ltd. (+170%) and Cons Callinan Flin Flon
(+150%).
The volume of shares traded on the VSE during February was 725 million shares, down three
per cent from January and down 11 per cent from February 1996.
February's value of $1.1 billion was up 10 per cent over the same period last year and
fractionally lower than January's value.
The VSE welcomed one new listing during the month: Madoc Mining Company Ltd. listed on
February 21. |
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