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08 August 2018 07:27 AM
Overseas Market Report
Current Level
Previous
Change
Daily % Change
Monthly % Change
Dow Jones Industrial Average
25,629
25,502
127.00
0.50
4.79
S&P 500
2,858
2,850
8.00
0.28
3.57
NASDAQ
7,884
7,860
24.00
0.31
2.54
FTSE 100 Index
7,718
7,664
55.00
0.71
1.32
DAX 30
12,648
12,598
50.00
0.40
1.22
CAC 40 Index
5,521
5,477
44.00
0.81
2.71
Nikkei 225 (Japan)
22,663
22,507
155.00
0.69
4.01
HKSE
28,249
27,820
429.00
1.54
-0.24
SSE Composite Index
2,779
2,705
74.00
2.74
1.17
S&P/TSX Composite Index
16,286
16,420
-134.00
-0.82
-0.52
NZ 50
8,873
8,876
-3.00
-0.03
-2.33
US Volatility (Vix)
11
Overseas Market Report
US sharemarkets posted firm gains on Tuesday as investors were encouraged by economic data and earnings results. There were broad-based gains, with technology, energy and banks higher. There was much interest in speculation that Tesla could be taken private. Shares in Tesla ended higher by 11%. The Dow Jones index rose by 127 points or 0.5%. The S&P 500 index rose by 0.3% and the Nasdaq was up by 24 points or 0.3%.
Global oil prices rose on Tuesday. The US reinstated some of the sanctions against Iran. The concern is that sanctions on Iranian oil may be re-imposed in November. The US Energy Information Administration said that crude output was expected to rise 1.31 million barrels per day to 10.68 million bpd in 2018, down from the previous forecast of 10.79 million. Brent crude rose by US90 cents or 1.2% to US$74.65 a barrel and the US Nymex rose by US16 cents or 0.2% to US$69.17 a barrel.
Base metal prices rose by up to 1.6% on the London Metal Exchange (LME) on Tuesday with lead up the most while tin was up just 0.2%. But aluminium bucked the trend, down by 0.1%.
The gold futures price rose by US60 cents an ounce to $1,218.30 an ounce. The spot gold price was trading near US$1,210 an ounce in late US trade. Iron ore rose by US55 cents on Tuesday or 0.8% to US$69.50 a tonne.
Commodities
Current Level
Previous
Change
Daily % Change
Monthly % Change
Oil Brent
74.65
73.75
0.90
1.22
-3.19
Oil - West Texas crude
69.16
69.17
-0.01
-0.01
-6.29
Gold Spot $/OZ
1,212.00
1,211.00
1.20
0.10
-3.43
Silver Spot $/OZ
15.40
15.40
0.00
0.09
-4.01
Iron Ore
59.80
59.90
-0.10
-0.23
0.79
Thermal Coal Newcastle
116.00
116.80
-0.80
-0.68
-0.09
Coking Coal FOB ECP AUS
180.00
175.60
4.40
2.51
-8.07
Aluminium ($US/t)
2,013
2,016
-3.00
-0.14
-4.57
Copper Mar-18 ($US/lb)
2.75
2.75
0.20
0.07
-2.10
Lead ($US/t)
2,137
2,104
33.00
1.58
-8.19
Nickel ($US/t)
13,763
13,594
169.00
1.24
-0.63
Zinc ($US/t)
2,643
2,620
23.00
0.87
-4.34
Tin ($US/t)
19,636
19,595
41.00
0.21
1.25
Uranium ($US/lb)
26.00
26.00
0.00
0.19
14.00
Australian Market Report
Current Level
Previous
Change
Daily % Change
Monthly % Change
ASX All Ords
6,341
6,359
-18.00
-0.29
-0.23
S&P/ASX 200
6,254
6,273
-19.00
-0.30
-0.29
ASX 24 Futures
6,202
Australian Market Report
Ahead of the local open SPI futures ended flat at 6,202. Tuesday 07 August - close: Australian shares have retreated on Tuesday as falling metals prices and a slump in Amcor after its giant US acquisition put pressure on the materials sector. The benchmark S&P/ASX200 index closed down 19.1 points, or 0.3 per cent, at 6,253.9 points, while the All Ordinaries was down 18.2 points, or 0.29 per cent, at 6,340.8 points.
Ashanti Headlines
Invictus Energy Limited: (IVZ.ASX, 5.3 cps, m.cap A$19.4m with 365.7m SOI, Cash ~$4.3m, O&G Explorer)
IVZ has appointed Getech to provide data management and technical support for Cabora Bassa Project who are preparing to mobilise to Zimbabwe
Getech is a leading AIM-listed supplier of petroleum consultancy services to companies and governments in the oil and gas industry and has extensive experience in Africa.
Getech will provide services that encompass initial data management, reprocessing and reinterpretation of US$30million legacy Mobil dataset
Low cost, high impact work program is in progress to mature Cabora Bassa Project and the TCF+ Mzarabani conventional gas condensate target to farm out
Invictus Managing Director Scott Macmillan commented on the appointment, “now that the harmonised elections in Zimbabwe have been concluded, the administration is focused on continuing to attract foreign investment and resurrecting the economy. We are excited to appoint Getech to undertake the reprocessing and reinterpretation work that will complement the internal work by our subsurface team …. The aim of this work is to reprocess the legacy data Mobil acquired by utilising the latest seismic processing techniques which have improved significantly since the data was acquired over 25 years ago.
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.
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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.
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