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20 November 2018 07:50 AM
Overseas Market Report
Current Level
Previous
Change
Daily % Change
Monthly % Change
Dow Jones Industrial Average
25,017
25,413
-396.00
-1.56
-1.68
S&P 500
2,691
2,736
-46.00
-1.66
-2.78
NASDAQ
7,028
7,248
-219.00
-3.03
-5.65
FTSE 100 Index
7,001
7,014
-13.00
-0.19
-0.69
DAX 30
11,245
11,341
-96.00
-0.85
-2.68
CAC 40 Index
4,985
5,025
-40.00
-0.79
-1.95
Nikkei 225 (Japan)
21,821
21,680
141.00
0.65
-3.16
HKSE
26,372
26,184
188.00
0.72
3.17
SSE Composite Index
2,704
2,679
24.00
0.91
6.00
S&P/TSX Composite Index
15,071
15,156
-84.00
-0.56
-2.58
NZ 50
8,772
8,793
-21.00
-0.24
-0.35
US Volatility (Vix)
20
Overseas Market Report
US sharemarkets were weaker on Monday. Technology stocks fell on concern for Apple iPhone demand. Also in focus were worries on US-China trade negotiations. The APEC meeting of Asian leaders concluded over the weekend without agreement on a communiqué. Shares in Apple fell by 4%. And shares in trade sensitive Boeing lost 4.5% with Caterpillar down 3.1%. At the close the Dow Jones was down by 396 points or 1.6%. The S&P500 index was lower by 1.7% and the Nasdaq index was lower by 219 points or 3.0%.
Global oil prices were slightly firmer on Monday. Investors continued to debate whether the global market would become over supplied. However, Reuters noted that "losses were muted as investors eyed potential sanctions on Iran from the European Union, a possible production cut from OPEC and slightly bullish storage drawdown in U.S. crude stocks." Energy supplier Genscape reported that crude inventories fell in the past week. Brent crude rose by US3 cents to US$66.79 a barrel and the US Nymex price rose by US30 cents to US$56.76 a barrel.
Base metal prices were mixed on the London Metal Exchange on Monday. Tin, copper and zinc rose by up to 1.4%. nickel, aluminium and lead fell by up to 1.6%.
The gold futures price rose by US$2.30 an ounce or 0.2% to $1,225.30 an ounce. The spot gold price was trading near US$1,224 an ounce in late US trade. Iron ore rose by US35 cents or 0.5% on Monday to US$75.45 a tonne.
Commodities
Current Level
Previous
Change
Daily % Change
Monthly % Change
Oil Brent
66.79
66.76
0.03
0.04
-16.28
Oil - West Texas crude
57.42
57.20
0.22
0.38
-16.93
Gold Spot $/OZ
1,224.00
1,224.00
0.10
0.01
-0.22
Silver Spot $/OZ
14.40
14.40
0.00
0.00
-1.02
Iron Ore
73.70
73.00
0.70
0.92
9.38
Thermal Coal Newcastle
103.00
102.50
0.50
0.44
-6.41
Coking Coal FOB ECP AUS
0.00
0.00
0.00
0.00
0.00
Aluminium ($US/t)
1,916
1,921
-5.00
-0.25
-3.96
Copper Mar-18 ($US/lb)
2.79
2.79
-0.40
-0.14
0.61
Lead ($US/t)
1,984
1,988
-4.00
-0.19
0.46
Nickel ($US/t)
11,108
11,287
-179.00
-1.59
-10.22
Zinc ($US/t)
2,697
2,685
12.00
0.46
0.77
Tin ($US/t)
19,635
19,361
274.00
1.42
2.35
Uranium ($US/lb)
29.00
29.00
0.00
0.00
5.62
Australian Market Report
Current Level
Previous
Change
Daily % Change
Monthly % Change
ASX All Ords
5,735
5,786
-51.00
-0.88
-5.09
S&P/ASX 200
5,644
5,694
-50.00
-0.88
-4.98
ASX 24 Futures
5,662
Australian Market Report
Monday 19 November - close. The Australian share market has closed lower, weighed down by APEC trade tensions and a financial sector hit by more banking woes and the loss of a significant contract for Medibank Private. The benchmark S&P/ASX200 index was down 36.9 points, or 0.64 per cent, at 5,693.7 at 1630 AEDT on Monday, while the All Ordinaries was down 36.4 points at 5,786.4.
Ashanti Headlines
Adriatic Metals PLC (ADT.ASX, 63cps, m.cap A$94.8m with 150.5m SOI, Cash A$15.5m (following placement), Polymetallic Explorer / Developer)
ADT has announced it has completed a Placement to institutional investors and existing shareholder, Sandfire Resources NL.
The Placement raised a total of A$10.8 million from the issuance of approximately 19.7 million CHESS Deposit Interests at A$0.55 per New CDI. Post completion of the Institutional Placement, the Company will have approx. 150.5 million CDIs on issue.
The Placement was strongly supported by existing shareholders and introduced a number of new, high quality domestic and international investors to the ADT share register
CEO Geraint Harris commented, “We are delighted with the outcome of the Institutional Placement which generated exceptional demand from leading domestic and international institutional investors. We are very pleased by the support shown by our existing institutional shareholders and Sandfire’s continued support for Adriatic through maintaining its stake. Cash in bank following the Placement is AUD $15.5m and Adriatic is now fully funded to accelerate its aggressive exploration program and development studies. The exploration focus will be drilling at Rupice (including the high grade northern plunge) and its new & existing regional prospects across wider Vareš region associated with the recent Concession Annexure expansion.”
Ashanti Capital acted as Lead Manager to the Placement.
A link to the full announcement can be found here and new investor presentation here
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.
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.