Monday, December 28, 2009

Markets rise amid jump in U.S. retail sales

NEW YORK–U.S. stock futures crept higher Monday as investors returning from a long holiday weekend were heartened by good news on retail sales.

Overseas markets were also higher. The dollar weakened against other currencies, giving commodities prices a boost. Bond prices fell.

The TSX in Toronto was closed for the statutory holiday.

Data released Monday showed shoppers opened their wallets more this season, a good sign that consumers are feeling better about the economy.

Figures from MasterCard Advisors' SpendingPulse, which track all forms of payment, show retail sales rose 3.6 per cent from Nov. 1 through Dec. 24, compared with a 2.3 per cent drop a year ago. Adjusting for an extra shopping day between Thanksgiving and Christmas, the number was closer to a 1 per cent gain.

Consumer spending is one of the biggest drivers of economic growth and is vital to a sustained recovery.

Investors will also be keeping a close eye on airline stocks after a failed attack on a Northwest flight on Christmas Day. Another incident on the same flight to Detroit from Amsterdam on Sunday raised further alarm.

Shares of Delta Air Lines Inc., which owns Northwest, slipped 14 cents to $11.63 (U.S.) in premarket trading. UAL Corp., which operates United Airlines, fell 39 cents, or 3 per cent, to $12.70.

Stocks are currently at their highest levels of the year, and in the absence of any bad news, analysts say the market is likely to drift higher during the final days of 2009. Trading volume has been extremely light due to the holidays, which can exaggerate price swings. Markets were closed on Friday for Christmas and will be closed again this Friday for New Year's Day.

Ahead of the market's open, Dow Jones industrial average futures rose 9, or 0.1 per cent, to 10,475. Standard&Poor's 500 index futures gained 2.40, or 0.2 per cent, to 1,124.40, and Nasdaq 100 index futures rose 4.0, or 0.2 per cent, to 1,872.

Overseas, Japan's Nikkei stock average rose 1.3 per cent to its highest close since late August, boosted by encouraging news on factory production. In afternoon trading, Germany's DAX index rose 0.7 per cent, while France's CAC-40 rose 0.8 per cent. Britain's FTSE 100 was closed for a holiday.

Bond prices fell. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.83 per cent from 3.80 per cent Thursday.

Commodities prices rose as the dollar fell. Commodities are priced in U.S. dollars, so when the greenback is weak they become more attractive to foreign buyers.

The ICE Futures U.S. dollar index, which measures the dollar against other major currencies, slipped 0.2 per cent. Oil prices gained 45 cents to $78.50 a barrel in electronic premarket trading on the New York Mercantile Exchange. Gold prices also rose.

Major stock indexes ended a holiday-shortened session Thursday at new 2009 highs following upbeat reports on unemployment and durable goods orders. This week, readings on home prices and consumer confidence are among the few economic reports expected.

Stocks have managed to grind higher this month despite lingering concerns about the economic recovery. But the gains have been more subdued than in recent months as investors have held back on taking risks heading into the end of the year. The Standard&Poor's 500 index is up 66.5 per cent since hitting 12-year lows in March.

Thursday, December 24, 2009

Canasia Commences Bulk Sample Operations on Clone Gold Discovery

December 23, 2009


Canasia Commences Bulk Sample Operations on Clone Gold Discovery
Canasia Industries Corporation ("CAJ") wishes to announce that it has been notified by its partner that the application has been completed for an initial bulk sample operation on the Clone Gold Prospect. The Clone Gold Prospect in Stewart BC, recently returned grades as high as 44.75 g/t over 12.8 metres (announced October 22, 2009). Approximately ten tons of samples have been gathered to date and were shipped for processing.

Negar Towfigh, President of Canasia stated, "The results for the 2009 drill program on the Clone were the best that Canasia has drilled to date and the drilling was near surface. This initial bulk sample may assist Canasia in further defining the size of the potential deposit and it may also aid in possibly generating initial revenue from the Clone Prospect. Canasia plans to conduct a larger drill program in 2010 on the Clone Prospect, than it did in 2009, due to the results achieved this past drill season. We are continuing operations on the Clone and we also anticipate being active on multiple other prospects in early 2010.

If you would like to be added to Canasia's news distribution list, please send your email address to info@canasiaind.com

Canasia Industries has a well diversified portfolio of prospects. Canasia's current prospects include the following: (a) The Clone Gold prospect in Stewart, BC, that has recently returned grades as high as 44.75 g/t Ag over 12.80 metres (announced October 22,2009); (b) The Debut Gold prospect in NE Nevada where Kinross Gold is now actively drilling; (c) 55,300 contiguous acres at Reed Lake, Manitoba; (d) 450,000 contiguous acres of Potash claims, bordering Alberta and Saskatchewan; (e) 130,500 acres prospective for Coal in SE Saskatchewan; (f) 180,000 acres prospective for Lithium in Alberta; (g) and three mineral claims covering an area of approximately 31,602 hectares, located north and northwest of the El Oro -- Tlalpujahua Gold/Silver belt in the states of Guanajuato and Michoacan Mexico.

Contact Information
Tel: 1 (877) 225-6755
Fax: 1(604) 689-1733
www.canasiaind.com
info@canasiaind.com

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