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07 August 2018 07:58 AM
Overseas Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Dow Jones Industrial Average25,50225,46340.000.164.28
S&P 5002,8502,84010.000.353.28
NASDAQ7,8607,81248.000.612.23
FTSE 100 Index7,6647,6595.000.060.60
DAX 3012,59812,616-18.00-0.140.82
CAC 40 Index5,4775,479-2.00-0.031.89
Nikkei 225 (Japan)22,50722,525-18.00-0.083.30
HKSE27,82027,676143.000.52-1.75
SSE Composite Index2,7052,740-35.00-1.29-1.53
S&P/TSX Composite Index16,42016,40911.000.070.30
NZ 508,8948,903-9.00-0.10-2.09
US Volatility (Vix)11
Overseas Market Report

US sharemarkets rose on Monday. Shares in Berkshire Hathaway rose by 2.9% after reporting a 67% lift in quarterly profit. Shares in Facebook rose by 4.5% on reports the social media company was planning new services. Reuters report that 79.2% of the 413 S&P500 companies that have reported results so far have beaten forecasts, up from the 72% average of the last year. The Dow Jones index rose by 40 points after trading in a 159 point range. The S&P500 index rose by 0.4% and the Nasdaq was up by almost 48 points or 0.6%.

Global oil prices rose by around 0.7% on Monday, reversing Friday's losses. Reuters quoted two OPEC sources as saying that Saudi Arabia pumped around 10.29 million barrels a day in July, down around 200,000b/d over the previous month. Also the US is expected to reinstate some of the sanctions against Iran on Tuesday. Brent crude rose by US54 cents or 0.7% to US$73.75 a barrel and the US Nymex rose by US52 cents or 0.8% to US$69.01a barrel.

Base metal prices fell by up to 2.0% on the London Metal Exchange (LME) on Monday with zinc down the most. But nickel rose by 1.0% while aluminium rose by 0.7%.

The gold futures price fell by US$5.50 an ounce or 0.4% to $1,217.70 an ounce. The spot gold price was trading near US$1,207 an ounce in late US trade. Iron ore rose by US$1.50 on Monday or 2.2% to US$68.95 a tonne.

CommoditiesCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Oil Brent73.7573.210.540.74-4.36
Oil - West Texas crude68.8769.01-0.14-0.20-6.68
Gold Spot $/OZ1,209.001,208.001.200.10-3.71
Silver Spot $/OZ15.3015.300.000.19-4.46
Iron Ore59.8059.90-0.10-0.230.79
Thermal Coal Newcastle116.80117.50-0.70-0.550.60
Coking Coal FOB ECP AUS175.60173.102.501.44-10.32
Aluminium ($US/t)2,0162,00214.000.71-4.44
Copper Mar-18 ($US/lb)2.732.73-0.30-0.13-3.02
Lead ($US/t)2,1042,105-1.00-0.06-9.61
Nickel ($US/t)13,59413,456138.001.03-1.85
Zinc ($US/t)2,6202,675-55.00-2.05-5.17
Tin ($US/t)19,59519,675-80.00-0.411.04
Uranium ($US/lb)26.0026.000.000.1913.79
Australian Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
ASX All Ords6,3596,32633.000.520.05
S&P/ASX 2006,2736,23538.000.610.01
ASX 24 Futures6,211
Australian Market Report

Monday 06 August - close. Australian shares rose on Monday, as strong iron ore prices in China helped material stocks while investors were largely focused on earnings due later in the week. The benchmark S&P/ASX200 index ended the day up 38.2 points, or 0.61 per cent, at 6,273.0 points, while the All Ordinaries was up 32.6 points, or 0.52 per cent, at 6,359.0 points. 

Ashanti Headlines

Aumake International Ltd (AU8.ASX, 28.5cps, m.cap A$81.1m with 270.4m SOI, Cash $10.7m, Consumer Discretionary)

  • AuMake International Limited (AU8) is pleased to announce the execution of a Supply Agreement with New Zealand-based Pure Nutrition Limited to develop an exclusive AuMake owned range of milk powder formula products consisting of A1 and A2 beta-casein proteins. The Agreement also provides for future extension of the range to organic and goat milk powder formula products.
  • Pure Nutrition Limited is a joint venture between Westland Milk Products, New Zealand’s second largest dairy co-operative owned by 400 farming families located mainly on New Zealand’s West Coast, and Hong Kong Stock Exchange listed Ausnutria Dairy Corporation Ltd, a top eight dairy infant nutrition company in China. PNL owns a state-of-the-art nutritional powder blending and canning facility in Christchurch New Zealand, providing high quality New Zealand production and total supply chain integrity.

  • Executive Chairman Keong Chan commented, “AuMake has long been aware of the potential of the milk powder formula market and conducted extensive analysis of this market prior to committing to Pure Nutrition Limited as our supplier of choice.... Our distribution and marketing capabilities via our expanding Australian network, in conjunction with our growing sales channels into China, provide us with significant growth opportunities in this market that are not initially predicated on SAMR approval, including English labelled infant formula sold within Australia."
  • Please contact the desk on +61 8 6169 2668 if you would like to discuss further
  • A link to the full announcement can be found here

Have a question? admin@ashanticapital.com.au

ERA Communications