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06 September 2018 07:46 AM
Overseas Market Report
Current Level
Previous
Change
Daily % Change
Monthly % Change
Dow Jones Industrial Average
25,975
25,952
23.00
0.09
1.85
S&P 500
2,889
2,897
-8.00
-0.28
1.34
NASDAQ
7,995
8,091
-96.00
-1.19
1.72
FTSE 100 Index
7,383
7,458
-75.00
-1.00
-3.66
DAX 30
12,040
12,210
-170.00
-1.39
-4.43
CAC 40 Index
5,260
5,343
-82.00
-1.54
-3.96
Nikkei 225 (Japan)
22,581
22,697
-116.00
-0.51
0.33
HKSE
27,244
27,973
-729.00
-2.61
-2.07
SSE Composite Index
2,704
2,751
-46.00
-1.68
-0.03
S&P/TSX Composite Index
16,138
16,161
-24.00
-0.15
-1.72
NZ 50
9,198
9,228
-30.00
-0.33
3.31
US Volatility (Vix)
14
Overseas Market Report
US sharemarkets were mixed on Wednesday but losses in the technology sector weighed on key indexes. Executives from Facebook and Twitter testified before Congress. Shares in Facebook lost 2.3% with Amazon down 2.2%, Netflix down 6.2% and Twitter down 6.1%. Oil stocks fell on a weaker oil price. The Dow Jones index rose by 22.5 points or 0.1% after trading in a 140 point range. The S&P 500 index fell by 0.3% and the Nasdaq lost 96 points or 1.2%.
Global oil prices fell by over 1% on Wednesday. Tropical Storm Gordon weakened and moved away from oil producers and refiners operating in the US Gulf Coast, reducing the risk of supply disruptions. Traders were watching developments in the US-China trade dispute and jitters in emerging markets. Brent crude fell by US90 cents or 1.2% to US$77.27 a barrel and the US Nymex price fell by US$1.15 or 1.6% to US$68.72 a barrel.
Base metal prices ended mixed on the London Metals Exchange (LME) on Wednesday. Copper, aluminium and zinc rose up to 1%with copper up the most. Other metals fell up to 1.6% with lead down the most.
The gold futures price rose by US$2.20 an ounce or 0.2% to $1,201.30 an ounce. The spot gold price was trading near US$1,197 an ounce in late US trade. Iron ore rose by US35 cents or 0.5% to US$67.05 a tonne.
Commodities
Current Level
Previous
Change
Daily % Change
Monthly % Change
Oil Brent
77.27
78.17
-0.90
-1.15
5.55
Oil - West Texas crude
68.57
68.72
-0.15
-0.22
-0.64
Gold Spot $/OZ
1,198.00
1,197.00
0.80
0.07
-0.81
Silver Spot $/OZ
14.20
14.20
0.00
0.17
-7.07
Iron Ore
62.70
62.30
0.40
0.69
3.23
Thermal Coal Newcastle
114.80
115.30
-0.50
-0.48
-2.26
Coking Coal FOB ECP AUS
182.20
182.20
0.00
0.00
6.74
Aluminium ($US/t)
2,036
2,030
5.00
0.26
1.69
Copper Mar-18 ($US/lb)
2.59
2.59
0.90
0.35
-6.19
Lead ($US/t)
2,032
2,065
-33.00
-1.60
-3.46
Nickel ($US/t)
12,358
12,380
-23.00
-0.18
-8.16
Zinc ($US/t)
2,428
2,424
4.00
0.14
-9.23
Tin ($US/t)
18,857
18,896
-39.00
-0.21
-4.16
Uranium ($US/lb)
27.00
27.00
0.00
0.00
2.50
Australian Market Report
Current Level
Previous
Change
Daily % Change
Monthly % Change
ASX All Ords
6,339
6,399
-60.00
-0.93
-0.31
S&P/ASX 200
6,230
6,293
-63.00
-1.00
-0.68
ASX 24 Futures
6,190
Australian Market Report
Wednesday 5 September - close. The Australian share market closed lower on Wednesday, dragged down by a slump in the heavyweight mining sector as worries about a possible escalation of trade tensions hit commodity prices. The benchmark S&P/ASX200 index ended the day down 62.7 points, or one per cent, at 6,230.4 points, while the broader All Ordinaries index was down 59.7 points, or 0.93 per cent, at 6,339.2 points.
Ashanti Headlines
Alliance Mineral Assets Limited - Bald Hill Operations and Optimisation Study Update
Highlights:
Total of 21,975 wmt (wet metric tonnes) of spodumene (lithium) concentrate produced in July and August
Lithium concentrate produced is of a high quality – low levels of Fe, Na, K and mica
18,855 dmt (dry metric tonnes) of lithium concentrate shipped during July and August
Lithium concentrate stockpiles of approximately 12,300 wmt as of 31 August
13.2 wmt tantalum pentoxide in concentrate produced
Total of 243,182 tonnes of ore processed during July and August at an average throughput of 211 tph (tonnes per hour)
Fines optimisation study well-advanced, targeting increased combined throughput to 300 tph
The JV parties are targeting production of 60,000 to 75,000 tonnes of lithium concentrate during the 6 months between July and December 2018.
TAW MD Mark Calderwood commented: “the Bald Hill JV is continuing to make excellent progress at the Bald Hill Mine and we are on track for our targeted production of concentrate by calendar year end. We remain fully focused on getting the project operating to its optimum level as soon as possible, and with the optimisation studies currently underway we anticipate making further significant gains in throughput increases.”
Please contact the desk on +61 8 6169 2668 should you wish to discuss further
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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