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02 August 2018 07:57 AM
Overseas Market Report
Current Level
Previous
Change
Daily % Change
Monthly % Change
Dow Jones Industrial Average
25,334
25,415
-81.00
-0.32
4.22
S&P 500
2,813
2,816
-3.00
-0.10
3.18
NASDAQ
7,707
7,672
35.00
0.46
1.84
FTSE 100 Index
7,653
7,749
-96.00
-1.24
1.39
DAX 30
12,737
12,806
-68.00
-0.53
4.08
CAC 40 Index
5,498
5,511
-13.00
-0.23
4.20
Nikkei 225 (Japan)
22,747
22,554
193.00
0.86
4.29
HKSE
28,341
28,583
-242.00
-0.85
-2.12
SSE Composite Index
2,825
2,876
-52.00
-1.80
1.76
S&P/TSX Composite Index
16,377
16,434
-57.00
-0.35
0.61
NZ 50
8,839
8,860
-21.00
-0.24
-1.16
US Volatility (Vix)
13
Overseas Market Report
US sharemarkets were mixed on Wednesday. There were few surprises in the interest rate decision while economic data was generally softer than expected. Lower oil prices dragged the energy sector lower. But technology stocks rose with Apple up 5.9%. And investors were watchful about news on the US-China trade dispute. The Dow Jones index fell by 81 points or 0.3%, the S&P 500 index fell by 0.1% but the Nasdaq rose by 35.5 points or 0.5%.
Global oil prices fell in response to a lift in crude supplies. The US Energy Information Administration said that inventories rose by 3.8 million barrels last week. Brent crude fell by US$1.82 or 2.5% to US$72.39 a barrel and the US Nymex fell by US$1.10 or 2.0% to US$67.66 a barrel.
Base metal prices fell between 1.2-3.2% on the London Metal Exchange (LME) on Wednesday with nickel down the most.
The gold futures price fell by US$6.00 an ounce or 0.5% to $1,227.60 an ounce. The spot gold price was trading near US$1,217 an ounce in late US trade. Iron ore fell by US$1.10 or 1.6% to US$66.45 a tonne.
Commodities
Current Level
Previous
Change
Daily % Change
Monthly % Change
Oil Brent
72.39
74.21
-1.82
-2.45
-8.87
Oil - West Texas crude
67.82
67.66
0.16
0.24
-8.28
Gold Spot $/OZ
1,218.00
1,216.00
1.90
0.15
-1.95
Silver Spot $/OZ
15.40
15.40
0.00
0.17
-2.81
Iron Ore
60.90
61.10
-0.30
-0.46
0.71
Thermal Coal Newcastle
117.80
117.50
0.30
0.21
2.97
Coking Coal FOB ECP AUS
172.10
170.70
1.40
0.82
-12.46
Aluminium ($US/t)
2,030
2,061
-31.00
-1.49
-5.73
Copper Mar-18 ($US/lb)
2.74
2.74
-0.40
-0.13
-6.40
Lead ($US/t)
2,112
2,140
-28.00
-1.31
-12.17
Nickel ($US/t)
13,492
13,939
-447.00
-3.20
-8.98
Zinc ($US/t)
2,614
2,676
-62.00
-2.32
-10.06
Tin ($US/t)
19,925
20,175
-250.00
-1.24
0.48
Uranium ($US/lb)
26.00
26.00
0.00
0.00
13.88
Australian Market Report
Current Level
Previous
Change
Daily % Change
Monthly % Change
ASX All Ords
6,362
6,366
-4.00
-0.06
1.42
S&P/ASX 200
6,276
6,280
-4.00
-0.07
1.59
ASX 24 Futures
6,200
Australian Market Report
Wednesday 1 August - close. The Australian share market has closed slightly lower as falls in banking and energy stocks offset gains in miners BHP and Rio Tinto, industrials and healthcare companies. The benchmark S&P/ASX200 index was down 4.5 points, or 0.07 per cent, at 6,275.7 points at the close on Wednesday, while the All Ordinaries was down 4.1 points, or 0.06 per cent, at 6,362.1 points.
Ashanti Headlines
MOD Resources Limited (MOD.ASX, 44cps, m.cap A$101.9m with 231.5m SOI, Cash $17.3m, Copper Explorer /Developer)
MOD to Seek Dual Listing on the London Stock Exchange in Q4 2018
Listing was driven by interest from some of London's leading natural resource funds
LSE listing expected to take place following the completion of the Company's transaction with Metal Tiger PLC announced on 18 July 2018 whereby MOD will consolidate 100% ownership of the T3 Copper Project and fain rights to acquire all JV exploration assets between the two companies in Botswana
Similarly to the ASX, there is a lack of quality copper developers/explorers and we believe that MOD will help fill this void
Diggers and Dealers: 6th - 8th August, Kalgoorlie Western Australia
Australia's largest annual mining (drinking) conference kicks off next week in Kalgoorlie
As has become customary in recent years, we expect plenty of newsflow from attendees and delegates (news commenced this morning with NST's annual Reserve and Resource update)
Several of Ashanti's favourite names will be presenting including: MOD | TAW | IGO | EAR | PEX | WSA
Ashanti will be at Diggers and Dealers next week including a couple of site visits.
If you would like to arrange a meeting or catch-up, please contact Tom on +61 413 008 712 or Duncan on +61 413 811 004.
Ashanti Capital Pty Ltd, ABN 61 614 939 981, the holder of an Australian Financial Services License (AFSL) number 493204. Any advice included in this document is general advice only, based solely on consideration of the investment or trading merits of the financial product/s alone, without taking into account the investment objectives, financial situation and particular needs (i.e. financial circumstances) of any particular person. Before making an investment or trading decision based on the advice, the recipient should consider carefully the appropriateness of the advice in light of his or her financial circumstances and obtain a copy of and consider the Product Disclosure Statement for that product before making any decision.
While this communication is for informational purposes only and based on the information from sources which are considered reliable. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Ashanti Capital, its directors, employees and consultants do not represent, warrant or guarantee, expressly or impliedly, that the information contained in this document is complete or accurate. Nor does Ashanti Capital accept any responsibility to inform you of any changes.
This document is a private communication to clients and is not intended for public circulation or for the use of any third party, without the prior approval of Ashanti Capital.
Ashanti Capital and/or entities and persons connected with it may have an interest in the securities, the subject of the recommendations set out in this report. In addition, Ashanti Capital and/or its associates will receive commissions on any transaction involving the relevant securities.