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09 November 2018 07:55 AM
Overseas Market Report
Current Level
Previous
Change
Daily % Change
Monthly % Change
Dow Jones Industrial Average
26,191
26,180
11.00
0.04
-0.91
S&P 500
2,807
2,814
-7.00
-0.25
-2.55
NASDAQ
7,531
7,571
-40.00
-0.53
-2.68
FTSE 100 Index
7,141
7,117
23.00
0.33
-1.34
DAX 30
11,527
11,579
-52.00
-0.45
-3.76
CAC 40 Index
5,131
5,138
-6.00
-0.13
-3.52
Nikkei 225 (Japan)
22,487
22,086
401.00
1.82
-4.19
HKSE
26,228
26,148
80.00
0.31
0.21
SSE Composite Index
2,636
2,641
-6.00
-0.22
-3.14
S&P/TSX Composite Index
15,357
15,369
-12.00
-0.08
-3.13
NZ 50
8,911
8,896
15.00
0.17
-1.75
US Volatility (Vix)
17
Overseas Market Report
US sharemarkets were mixed on Thursday. Shares in chipmaker Qualcomm fell by 8.2% after the company forecast revenue for the holiday quarter below analyst forecasts. Shares of home builders eased after D.R. Horton warned that higher home prices and higher interest rates could crimp demand. At the close of trade, the Dow Jones was higher by 11 points or less than 0.1%. The S&P500 index was down by 0.3% and the Nasdaq index was down 40 points or 0.5%.
Global oil prices fell again on Thursday with Nymex crude at fresh 8-month lows. The US is now the world's largest oil producer,with output at a record high of 11.6 million barrels per day in the past week. Supply concerns continue to ease. Brent crude fell by US$1.42 or 2.0% to US$70.65 a barrel and the US Nymex price fell by US$1.00 or 1.6% to US$60.67 a barrel.
Base metal prices mostly increased on the London Metals Exchange on Thursday. Lead rose by 4.2% but copper was flat and nickel was the only metal to fall, down by 0.3%.
The gold futures price fell by US$3.60 an ounce or 0.4% to $1,223.70 an ounce. The spot gold price was trading near US$1,223 an ounce in late US trade. Iron ore rose by US$1.75 or 2.3% to US$76.25 a tonne.
Commodities
Current Level
Previous
Change
Daily % Change
Monthly % Change
Oil Brent
70.65
72.07
-1.42
-1.97
-15.80
Oil - West Texas crude
60.73
60.67
0.06
0.10
-18.98
Gold Spot $/OZ
1,223.00
1,224.00
-0.60
-0.05
2.82
Silver Spot $/OZ
14.40
14.40
0.00
0.00
0.41
Iron Ore
73.90
73.70
0.30
0.35
12.00
Thermal Coal Newcastle
105.40
105.50
-0.10
-0.09
-6.56
Coking Coal FOB ECP AUS
0.00
0.00
0.00
0.00
0.00
Aluminium ($US/t)
1,980
1,971
8.00
0.42
-4.05
Copper Mar-18 ($US/lb)
2.73
2.73
-0.70
-0.24
-2.74
Lead ($US/t)
1,985
1,905
81.00
4.23
1.93
Nickel ($US/t)
11,710
11,744
-34.00
-0.29
-6.29
Zinc ($US/t)
2,588
2,502
85.00
3.40
-2.54
Tin ($US/t)
19,364
19,086
278.00
1.46
2.59
Uranium ($US/lb)
29.00
29.00
0.00
0.17
5.64
Australian Market Report
Current Level
Previous
Change
Daily % Change
Monthly % Change
ASX All Ords
6,010
6,016
-6.00
-0.10
-2.36
S&P/ASX 200
5,923
5,928
-6.00
-0.09
-1.96
ASX 24 Futures
5,903
Australian Market Report
Thursday 08 November - close. Banking and health care stocks lifted the Australian share market higher, while the energy sector also pushed ahead despite weak oil prices. The benchmark S&P/ASX200 index closed 31.3 points higher, or 0.53 per cent, at 5928.2 on Thursday, while the broader All Ordinaries rose 0.57 per cent.
Ashanti Headlines
Tawana / Alliance Merger Update
On 8 November 2018, the Federal Court of Australia approved the convening of a meeting of Tawana Shareholders to consider and vote on the Scheme and approved the dispatch of the Supplementary Scheme Booklet to Tawana Shareholders.
A copy of the Supplementary Scheme Booklet, which includes a replacement Independent Expert’s Report, a replacement Independent Limited Assurance Report and the Notice of Postponed Scheme Meeting, has been released on ASX today and will be sent to Tawana Shareholders on or around 12 November 2018.
Shareholders should read the Scheme Booklet and the Supplementary Scheme Booklet (and the materials accompanying those documents) before deciding whether or not to vote in favour of the Scheme.
The postponed Scheme Meeting to approve the Scheme will be held at 10:00am (AWST) on Tuesday, 27 November 2018 at King & Wood Mallesons, Level 30, QV1 Building, 250 St Georges Terrace, Perth, Western Australia.
The updated indicative timetable for the Merger is as follows:
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.
