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17 July 2018 07:39 AM
Overseas Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Dow Jones Industrial Average25,06425,01945.000.18-0.10
S&P 5002,7982,801-3.00-0.100.68
NASDAQ7,8067,826-20.00-0.260.77
FTSE 100 Index7,6007,662-61.00-0.80-0.44
DAX 3012,56112,54120.000.16-3.46
CAC 40 Index5,4095,429-20.00-0.36-1.68
Nikkei 225 (Japan)22,59722,188409.001.85-1.11
HKSE28,54028,52514.000.05-5.84
SSE Composite Index2,8142,831-17.00-0.61-6.88
S&P/TSX Composite Index16,49516,561-66.00-0.401.11
NZ 508,9898,9809.000.090.15
US Volatility (Vix)13
Overseas Market Report

US sharemarkets were mixed as investors weighed earnings results against trade tensions. The falling oil price weighed on shares of Chevron (-1.0%) and Exxon Mobil (-1.2%). But Amazon (+0.5%) shares hit a record high as its annual Prime Day commenced. In earnings results, Bank of America (+4.3%) beat expectations, but investor fund flow "uncertainty" hit BlackRock's (-0.6%) shares. Shares of Arconic surged 10.5% on reports the aluminium maker is subject to private equity firms' interest. The Dow Jones index rose by 45 points or 0.2%; S&P 500 index fell by 0.1%;Nasdaq index fell by 20 points or 0.3%.

Global oil prices fell on Monday as Libyan ports began to reopen and slowing Chinese growth weighed on broader sentiment. Russian Energy Minister Alexander Novak's comments that Russia may lift oil output by more than 200,000 barrels per day also weighed on crude oil prices. Brent crude fell by US$3.49 or 4.6% to US$71.84 a barrel and the US Nymex fell by US$2.95 or 4.2% to US$68.06 a barrel.

Base metal prices fell on the London Metal Exchange (LME) on Monday, extending their 5-week decline. Zinc fell 3.6% and copper by 0.8% to near 1-year lows on China growth concerns.

The gold futures price fell by US$1.50 an ounce or 0.1% to $1,239.70 an ounce. The spot gold price was trading near US$1,240 an ounce in late US trade. Iron ore fell by US50 cents to US$63.00 a tonne.

CommoditiesCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Oil Brent71.8475.33-3.49-4.63-2.18
Oil - West Texas crude68.0268.06-0.04-0.064.55
Gold Spot $/OZ1,240.001,241.00-0.70-0.06-3.07
Silver Spot $/OZ15.8015.800.000.02-4.69
Iron Ore58.0058.30-0.30-0.50-6.59
Thermal Coal Newcastle118.20117.700.500.472.83
Coking Coal FOB ECP AUS175.30177.60-2.30-1.30-12.70
Aluminium ($US/t)2,1062,06640.001.95-4.48
Copper Mar-18 ($US/lb)2.762.760.300.11-12.23
Lead ($US/t)2,1562,184-28.00-1.26-9.82
Nickel ($US/t)13,57213,881-310.00-2.23-10.17
Zinc ($US/t)2,5022,596-94.00-3.62-19.80
Tin ($US/t)19,56019,858-298.00-1.50-6.33
Uranium ($US/lb)23.0023.000.000.430.86
Australian Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
ASX All Ords6,3276,352-25.00-0.401.96
S&P/ASX 2006,2426,268-27.00-0.432.42
ASX 24 Futures6,180
Australian Market Report

Monday 16 July - close. Australian shares fell nearly half a per cent on Monday, led by losses in healthcare stocks, while soft weekend property auction results undermined banks, whose business model relies heavily on home loans. The benchmark S&P/ASX 200 index dropped 26.9 points, or 0.43 per cent, to close at 6,241.5 points, while the All Ordinaries fell 25.2 points, or 0.4 per cent, to 6,326.7 points.

Ashanti Headlines

Adriatic Metals PLC (ADT.ASX, 57.5cps, m.cap A$75.2m with 130.8m SOI, Cash $10.5m, Polymetallic Explorer / Developer

  • Drilling confirms a further high-grade and thick intercept, extending mineralisation north of Rupice, returning:
    • 66m @ 2.1g/t Au, 158g/t Ag, 2.3% Cu, 8.6% Pb, 12.8% Zn and 37% BaSO4 from 210m in drill hole BR-5-18.
  • Further extends the high-grade mineralisation approximately 110mdown-dip from historical hole BR-79-89.
  • BR-5-18 is approximately 40m north of the previously reported high grade drill hole BR-3-18.
  • Highlights the continuity and thickness of Rupice within the interpreted northern mineralisation corridor and confirms the ongoing exceptional growth potential.
  • Adriatic's Chief Executive Officer, Geraint Harris commented, "BR-5-18 represents not only another significant extension to the north and once again down-dip at the Rupice North Zone, but it also demonstrates a remarkably consistent geology, thickness and a high grade metal assemblage akin to the other holes we have drilled in this area. Our ongoing exploration programme continues to enhance our understanding of the stratigraphic and structural controls on the mineralisation corridor at Rupice North."... It is also interesting to see such strong chalcopyrite mineralisation in this hole, very similar to the grab samples taken at the Jurasevac adit. Our drill programme is increasing in intensity based on the recent spectacular results and we will now expand our drill testing of the prospective mineralisation in several of the directions where the mineralisation remains open."
  • There are currently three rigs on site with a fourth expected to arrive end of July. 

Please contact the desk on +61 8 6169 2668 should you wish to discuss further


Have a question? admin@ashanticapital.com.au

ERA Communications