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Recent news from Mantra Venture Group has led our team to conduct further research in order to determine if we will select them as our next Featured Company. Pinnacle members will be notified if we select them as our next equity target. Although the Canadian markets are our focus at Pinnacle Digest they are directly related to the American markets, which is why we research both equally.
Mantra Venture Group Ltd. (OTCBB: MVTG | news | PowerRating | PR Charts ) experienced a 2% decrease in share value Wednesday combined with 36,772 shares traded. On April 23rd they announced that they have identified a new lab facility to advance research on its Electro Reduction of Carbon Dioxide (ERC) Technology. This recent development has earned the attention of our team at Pinnacle Digest. We are focused on how it will affect their progress and overall exposure over the next few months and are debating the potential ramifications. Our team is constantly searching for our next featured equity and will be tracking their development.
We will be reviewing Mantra Venture Group's development and its potential ramifications on their future; further information and the entire article will be available on our site as well as an exclusive Chat Board dedicated to their shareholders.
All Mantra Venture Group shareholders are encouraged to share their thoughts on this equity with one of North America's largest online investor communities. Our team at Pinnacle Digest has recently launched our brand new site. Pinnacle Digest creates a snapshot of the market providing a simplistic and easy way to view trends and follow companies. Join our informative and complimentary online financial magazine at www.pinnacledigest.com.
US stocks rose for the first time this week after better than estimated profits were reported at technology and industrial companies. Last week US stocks recorded their largest weekly gain in almost 3 months as oil surged to constant new record highs. Oil climbed to yet another record Tuesday trading above $118 per barrel as fear of inflation continues. It seems everyday oil rises to yet another record. The TSX Exchange has been relentless in recent weeks as it continues to rise on the backs of record commodity prices. The TSX Composite has recently exploded past 14,000.00, but has retreated the past two days to close at 14069.80.
Oil has been rising relentlessly in the past few weeks, and broke through to a new all time record Tuesday. Light sweet crude oil fell on Wednesday to settle at $117.93 per barrel. We believe this trend in the markets will be difficult to continue as last week US stocks fell for the forth time in five weeks earnings continue to decline for financial companies. There are no two ways about it; in our opinion the markets still look very bleak and sentiment remains extremely cautious.
The financial industry woes have helped the S&P 500 record its largest quarterly loss since 2002. The S&P 500 rose 3.99 points Wednesday to close at 1,379.93. The markets had been showing life early last week as many believed much of the wake of the credit crisis had been reported. Commodity prices have been soaring to record prices, which is raising the attractiveness of many producing companies.
Sentiment has slowly begun to rally around the US markets. It is clear that the purchase and demand of gold as a hedge against inflation is diminishing. The Dow has been soaring recently and moved up another 42.99 points Wednesday. The markets are operating in tremendously volatile times at the moment. Although volatility has been stabilizing it must be understood and used to the investor's advantage.
The TSX and TSX-Venture exchanges are our focus at Pinnacle Digest. Resource based companies operating in these exchanges are what our research focuses on. Canadian stocks reported their first weekly gain in almost a month as sentiment central banks in the United States will cut borrowing rates to stave off a recession was prominent last week.
Canada's biggest fear is that a lack of credit will slow the global economy and thus reduce the demand of materials. At Pinnacle Digest we believe the global demand for many commodities will overpower any economic turmoil in the United States. The fluctuation occurring within this index is exceptional and keeping everyone on edge.
At Pinnacle Digest we feature four companies trading within the mining and oil and gas industries. We invite you to visit our multi-purpose online financial magazine to participate in our community and to educate yourself further on the markets moving Mantra Venture Group forward at www.pinnacledigest.com.
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About Pinnacle Digest
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