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28 August 2018 07:58 AM
Overseas Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Dow Jones Industrial Average26,05025,790259.001.012.35
S&P 5002,8972,87522.000.772.76
NASDAQ8,0187,94672.000.913.62
FTSE 100 Index7,5777,56314.000.19-1.61
DAX 3012,53812,395144.001.16-2.50
CAC 40 Index5,4795,43247.000.86-0.59
Nikkei 225 (Japan)22,80022,602198.000.880.38
HKSE28,27127,672599.002.17-1.85
SSE Composite Index2,7812,72951.001.89-3.23
S&P/TSX Composite Index16,44416,35688.000.540.31
NZ 509,2149,2068.000.082.42
US Volatility (Vix)12
Overseas Market Report

US sharemarkets were firmer on Monday in response to news of a US-Mexico trade deal. The Nasdaq rose above 8,000 points for the first time with the Dow Jones back above 26,000 points. There is now pressure on Canada and the EU to secure trade deals with the US. The Dow Jones index rose by 259 points or 1.0%. The S&P 500 index rose by 0.8% to record highs and the Nasdaq lifted by 72points or 0.9%.

Global oil prices rose by up to 0.5% on Monday. Reuters reported that "members of an OPEC and non-OPEC monitoring committee found producers cut their July output by 9 percent more than called for in their output reduction pact, two sources familiar with the matter said." Brent crude rose by US39 cents or 0.5% to US$76.21 a barrel and the US Nymex price rose by US15 cents or 0.2% to US$68.87 a barrel.

The London Metal Exchange was closed on Monday due to a public holiday so no new base metal prices

The gold futures price rose by US$2.70 an ounce or 0.3% to$1,216 an ounce. The spot gold price was trading near US$1,209an ounce in late US trade. Iron ore fell by US55 cents or 0.8% to US$65.85 a tonne.

CommoditiesCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Oil Brent76.2175.820.390.512.58
Oil - West Texas crude68.9568.870.080.120.38
Gold Spot $/OZ1,211.001,211.00-0.50-0.04-1.01
Silver Spot $/OZ14.9014.900.00-0.02-3.86
Iron Ore62.0062.20-0.20-0.324.32
Thermal Coal Newcastle118.90117.901.000.85-0.83
Coking Coal FOB ECP AUS180.50182.40-1.90-1.045.43
Aluminium ($US/t)2,0732,05320.000.970.42
Copper Mar-18 ($US/lb)2.712.710.100.04-2.80
Lead ($US/t)2,0692,04228.001.35-3.17
Nickel ($US/t)13,33813,198141.001.06-1.19
Zinc ($US/t)2,5412,47566.002.67-4.20
Tin ($US/t)19,04019,155-115.00-0.60-3.64
Uranium ($US/lb)26.0026.000.000.002.53
Australian Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
ASX All Ords6,3816,35823.000.36-0.16
S&P/ASX 2006,2696,24722.000.34-0.50
ASX 24 Futures6,264
Australian Market Report

Monday 27 August - close. A turnaround in the banking sector plus gains for mining and telco stocks have boosted the ASX back into positive territory on Monday. The benchmark S&P/ASX200 index ended the day up 21.6 points, or 0.35 per cent, to 6,268.9 points, while the All Ordinaries was up 23.2 points, or 0.36 per cent, to 6,381.1 points.

Ashanti Headlines

Rift Valley Resources Limited: (RVY.ASX, 1.7cps, m.cap A$19.7m with 1,158.5m SOI (post shareholder approval), Cash $6.34m, Rare Earths explorer)

  • Drilling has commenced at the Company's 70% owned Longonjo NdPr Project in Angola. 
  • RC Rig on site and has commenced 9,000m programme which will test the full extent of the shallow weathered NdPr mineralisation across the 6km2 Longonjo carbonatite

  • COO Dave Hammond commented: “It has been a great team effort to complete the preparation programmes on time to allow the drilling to commence bang on schedule. We are targeting a large tonnage, high grade deposit that could rank Longonjo as one of the world’s biggest NdPr projects and are really looking forward to reporting the first results within the next few weeks. “
  • Please don't hesitate to contact the desk on +61 6169 2668 should you wish to discuss further

Have a question? admin@ashanticapital.com.au

ERA Communications