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04 December 2018 08:31 AM
Overseas Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Dow Jones Industrial Average25,82625,538288.001.132.20
S&P 5002,7902,76030.001.092.47
NASDAQ7,4427,331111.001.511.15
FTSE 100 Index7,0626,98082.001.18-0.45
DAX 3011,46511,257208.001.85-0.46
CAC 40 Index5,0545,00450.001.00-0.94
Nikkei 225 (Japan)22,56722,575-8.00-0.031.45
HKSE27,18226,507675.002.552.63
SSE Composite Index2,6552,58867.002.57-0.81
S&P/TSX Composite Index15,27515,19877.000.511.03
NZ 508,8978,87620.000.230.69
US Volatility (Vix)16
Overseas Market Report

US sharemarkets rose on Monday after US and Chinese leaders agreed to a truce in the tariff war. To prevent tariffs being lifted again, a broader trade agreement needs to be secured in a 90-day period beginning January 1. Trade-sensitive stocks rose the most with Caterpillar up 2.4% and Boeing up 3.8% and Apple up 3.5%. After being up 442 points, the Dow Jones finished trade higher by 288 points or 1.1%. The S&P500 index was up by 1.1% and the Nasdaq index gained 111 points or 1.5%.

Global oil prices lifted by 4-5% on Monday. There were hopes for stronger global economic growth after the US-China trade truce.And there are hopes that OPEC oil ministers will agree on supply cuts at Thursday's meeting. Also Canadian province Alberta said it will force producers to cut output by 8.7% to deal with a pipeline bottleneck that has led to crude building up in storage. Brent crude rose by US$2.98 or 5.1% to US$61.69 a barrel and the US Nymex price rose by US$2.02 or 4.0% to US$52.95 a barrel.

Base metal prices were firmer by up to 2.6% on the London Metal Exchange on Monday with tin up the most but the only decline came from lead, down 0.4%.

The gold futures price rose by US$13.60 an ounce or 1.1% to $1,239.60 an ounce. The spot gold price was trading near US$1,231 an ounce in late US trade. Iron ore rose by US70 cents or 1.1% to US$66.15 a tonne.

CommoditiesCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Oil Brent61.6959.462.233.75-15.30
Oil - West Texas crude53.2052.950.250.47-15.74
Gold Spot $/OZ1,231.001,231.000.800.07-0.12
Silver Spot $/OZ14.4014.400.000.11-2.35
Iron Ore64.7065.00-0.30-0.42-13.57
Thermal Coal Newcastle102.50102.90-0.50-0.44-0.92
Coking Coal FOB ECP AUS0.000.000.000.000.00
Aluminium ($US/t)1,9721,95715.000.770.60
Copper Mar-18 ($US/lb)2.792.79-0.50-0.18-0.45
Lead ($US/t)1,9531,960-8.00-0.38-0.75
Nickel ($US/t)11,18011,13644.000.40-5.74
Zinc ($US/t)2,6922,65538.001.413.54
Tin ($US/t)18,87118,398473.002.57-1.25
Uranium ($US/lb)29.0029.000.000.350.87
Australian Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
ASX All Ords5,8425,856-14.00-0.24-1.58
S&P/ASX 2005,7575,771-15.00-0.25-1.58
ASX 24 Futures5,760
Australian Market Report

Monday 3 December - close. The Australian share market surged higher following a 90-day truce on tariffs between the US and China, with energy and mining stocks recording significant gains. The benchmark S&P/ASX200 index was up 104 points, or 1.84 per cent, at 5771.2 on Monday, while the broader All Ordinaries rose 1.86 per cent by 5856.30.

Ashanti Headlines

Tawana and Alliance Mineral Assets Limited Scheme of Arrangement Approved by Federal Court

  • The Federal Court of Australia has today made orders in accordance with section 411(4)(b) of the Corporations Act 2001 (Cth) approving the scheme of arrangement (Scheme) between Tawana and its shareholders under which Alliance Mineral Assets Limited (Alliance) will acquire 100% of the ordinary shares in Tawana. 
  • Tawana intends to lodge an office copy of the Court’s orders with the Australian Securities and Investments Commission today at which time the Scheme will become effective. Tawana shares will be suspended from trading on the ASX and JSE from the close of trading today, Tuesday, 4 December 2018.


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