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19 July 2018 07:53 AM
Overseas Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Dow Jones Industrial Average25,19925,12079.000.322.02
S&P 5002,8162,8106.000.221.92
NASDAQ7,8547,855-1.00-0.011.67
FTSE 100 Index7,6767,62650.000.650.95
DAX 3012,76612,662104.000.820.69
CAC 40 Index5,4475,42325.000.461.05
Nikkei 225 (Japan)22,79422,69797.000.432.31
HKSE28,11728,182-64.00-0.23-4.58
SSE Composite Index2,7872,798-11.00-0.39-4.15
S&P/TSX Composite Index16,47716,519-42.00-0.250.99
NZ 508,9508,9464.000.040.98
US Volatility (Vix)12
Overseas Market Report

US sharemarkets lifted on Wednesday, boosted by earnings results. Morgan Stanley shares rose by 1.8% after the bank reported a strong quarterly profit. Transport companies CSX (+7.1%) and United Continental (+8.8%) also beat analysts' profits and sales forecasts. US homebuilders' KB Home (-2.2%) and Lennar (-0.7%) shares declined after US housing starts fell to a 9-month low. The Dow Jones index rose by 79 points or 0.3% and the S&P 500 index rose by 0.2% to 2815 points, a 5-month high. The Nasdaq index fell by just 0.7 points or -0.01%.

Global oil prices rose on Wednesday. According to the EIA, US crude inventories rose by 5.8 million barrels last week as oil production reached a record 11 million barrels per day. But a drone attack at a Saudi Aramco refinery in Riyadh by Yemen's Houth is supported prices. There were also reports that OPEC compliance with output curbs fell by 27% to 147% in May. Brent crude rose by US74 cents or 1.0% to US$72.90 a barrel and the US Nymex rose by US68 cents or 1.0% to US$68.76 a barrel.

Base metal prices were mixed on the London Metal Exchange(LME) on Wednesday. Zinc rose by the most in 12 months, up by3.8% on speculation that China is taking steps to bolster bank lending. But aluminium was down by 0.6%.

The gold futures price rose by US60 cents an ounce or 0.05% to $1,227.90 an ounce. The spot gold price was trading near US$1,227 an ounce in late US trade. Iron ore rose by US5 cents to US$63.75 a tonne.

CommoditiesCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Oil Brent72.9072.160.741.03-3.24
Oil - West Texas crude68.9368.760.170.255.93
Gold Spot $/OZ1,228.001,228.000.000.00-3.70
Silver Spot $/OZ15.6015.600.000.03-4.55
Iron Ore58.0058.30-0.30-0.50-6.59
Thermal Coal Newcastle119.60118.700.900.763.19
Coking Coal FOB ECP AUS174.60174.90-0.30-0.17-13.05
Aluminium ($US/t)2,0542,066-12.00-0.57-7.53
Copper Mar-18 ($US/lb)2.752.751.300.46-11.41
Lead ($US/t)2,1502,1473.000.12-11.10
Nickel ($US/t)13,51913,393126.000.94-9.22
Zinc ($US/t)2,6312,53497.003.83-15.32
Tin ($US/t)19,56119,585-24.00-0.12-5.01
Uranium ($US/lb)24.0024.000.00-0.631.51
Australian Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
ASX All Ords6,3296,28841.000.651.94
S&P/ASX 2006,2456,20441.000.672.34
ASX 24 Futures6,203
Australian Market Report

Wednesday 19 July - close. Australian shares rose on Wednesday after global miner BHP reported record iron ore output for 2017/18, which sent its shares up over three per cent in a boost to peers and overall sentiment. The benchmark S&P/ASX200 index closed up 41.5 points, or 0.67 per cent, at 6,245.1 points, while the broader All Ordinaries gained 40.7 points, or 0.65 per cent, to 6,329.1 points.

Ashanti Headlines

Greenland Minerals and Energy Limited: (GGG.ASX, 7.8cps, m.cap A$91.8m with 1,105.4m SOI, Cash $9.4m, Rare Earth's Developer)

  • Updated Social Impact Assessment (SIA) report completed   
    • Lodged with Greenland Government, expedited review period commenced   
  • Updated Environmental Impact Assessment (EIA) report received, undergoing internal reviews prior to final signoff   
    • Remaining supporting studies will be completed in July 
    • EIA to be lodged with Greenland’s EAMRA in early August 
  • Progressive meetings held with new Minister for Mineral Resources 
  • Translations of SIA, EIA, Maritime Safety Study being readied for public consultation  
  • Please see link to full announcement here
  • Please call the desk should you wish to discuss further

Berkeley Energia Ltd: (BKY.ASX, 8.2cps, m.cap A$191.2m with 258.3m SOI, Cash $99.8m, Uranium Developer)

  • Berkeley Energia shares list at 50% premium on best debut on Madrid stock exchange for 18 years as it becomes Spain's only listed mining company
  • The Company is investing €250 million in the Salamanca project in the region of Castilla y Leon
  • Paul Atherly, MD of Berkeley Energia commented, “Berkeley Energia has now become Spain’s only listed mining company and we look forward to being a part of the country’s modern mining history and creating long-term shareholder value.... This is a proud moment for our business and represents a major post-Brexit bilateral trade deal. It is a key step forward as we progress with the Salamanca Project, providing economic stimulus and creating badly needed jobs in a region with some of the highest levels of unemployment in Europe.”   
  • Please see attached link to announcement here

Have a question? admin@ashanticapital.com.au

ERA Communications