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08 January 2019 07:12 AM
Overseas Market Report
Current Level
Previous
Change
Daily % Change
Monthly % Change
Dow Jones Industrial Average
23,531
23,433
98.00
0.42
-3.52
S&P 500
2,550
2,532
18.00
0.70
-3.17
NASDAQ
6,823
6,739
85.00
1.26
-2.09
FTSE 100 Index
6,811
6,837
-27.00
-0.39
0.48
DAX 30
10,748
10,768
-20.00
-0.18
-0.37
CAC 40 Index
4,719
4,737
-18.00
-0.38
-1.95
Nikkei 225 (Japan)
20,039
19,562
477.00
2.44
-7.56
HKSE
25,836
25,626
210.00
0.82
-0.88
SSE Composite Index
2,533
2,515
18.00
0.72
-2.79
S&P/TSX Composite Index
14,504
14,427
78.00
0.54
-1.97
NZ 50
8,799
8,806
-7.00
-0.08
0.36
US Volatility (Vix)
21
Overseas Market Report
US sharemarkets rose again on Monday on optimism about US China trade talks. Technology led the gains with Netflix up 6.0% and Amazon up 3.4%. Reuters reported "Commerce Secretary Wilbur Ross said on Monday China and the United States were likely to reach a good settlement over immediate trade issues, while an agreement on structural trade issues and enforcement will be harder." The Dow Jones was higher by 98 points or 0.4% after being up as much as 255 points. The S&P500 index was up by 0.7%. The Nasdaq index was up by 85 points or 1.3%.
Global oil prices rose by around 1% on Monday. US-China trade talks continue to encourage investors about the outlook for global growth and thus oil demand. Also investors are hopeful that lower OPEC production will support prices. Brent crude rose by US27cents or 0.5% to US$57.33 a barrel and the US Nymex price rose by US56 cents or 1.2% to US$48.52 a barrel.
Base metal prices rose by up to 2.6% on the London Metal Exchange with zinc up the most. But aluminium fell by 0.2% while other metals rose up to 1.1%.
The gold futures price rose by US$4.10 an ounce or 0.3% to $1,289.90 an ounce. The spot gold price was trading near US$1,288 an ounce in late US trade. Iron ore rose by US$1.50 or 2.0% to US$74.95 a tonne. The Financial Times has reported that China has approved US$125 billion of rail projects in fiscal stimulus.
Commodities
Current Level
Previous
Change
Daily % Change
Monthly % Change
Oil Brent
57.33
57.06
0.27
0.47
-7.04
Oil - West Texas crude
48.80
48.52
0.28
0.58
-7.24
Gold Spot $/OZ
1,289.00
1,289.00
0.20
0.02
3.29
Silver Spot $/OZ
15.70
15.70
0.00
0.10
7.22
Iron Ore
71.00
71.70
-0.60
-0.88
6.25
Thermal Coal Newcastle
99.10
99.50
-0.50
-0.45
-3.41
Coking Coal FOB ECP AUS
0.00
0.00
0.00
0.00
0.00
Aluminium ($US/t)
1,866
1,870
-4.00
-0.19
-4.33
Copper Mar-18 ($US/lb)
2.64
2.64
0.10
0.02
-4.35
Lead ($US/t)
1,940
1,938
2.00
0.10
-2.16
Nickel ($US/t)
11,081
11,042
39.00
0.35
2.17
Zinc ($US/t)
2,575
2,510
65.00
2.59
-3.95
Tin ($US/t)
19,789
19,578
211.00
1.08
4.06
Uranium ($US/lb)
29.00
29.00
0.00
0.35
-0.17
Australian Market Report
Current Level
Previous
Change
Daily % Change
Monthly % Change
ASX All Ords
5,744
5,677
67.00
1.20
-0.45
S&P/ASX 200
5,683
5,619
64.00
1.10
-0.22
ASX 24 Futures
5,621
Australian Market Report
Monday 7 January - close. The ASX has shaken off most of its losses from its dismal December, closing at its highest level in over a month. The benchmark S&P/ASX200 index was up 63.8 points, or 1.14 per cent, to close at 5683.2 at 1615 AEDT on Monday, with confidence high on the back of strong US jobs data. The broader All Ordinaries was up 67.5 points, or 1.19 per cent, 5744.5.
Pensana recently announced an excellent set of drill results from its exploration programme at its Longonjo NdPr Project in Angola
Results from the latest 31 holes include a number of high-grade intersections starting from the surface up to 42 metres in thickness including:
LRC053: 10 metres @ 8.03% REO including 1.98% NdPr from surface and 14 metres at 7.33% REO including 1.86% NdPr from 20 metres
LRC055: 14 metres @ 5.45% REO including 1.13 NdPr from surface
LRC057: 42 metres at 3.98% REO including 0.85% NdPr from surface
LRC042: 12 metres at 4.01% REO including 1.01% NdPr from surface
The results follow on from the previously announced results which also included high-grade intersections starting from surface and up to 65 metres in thickness
With just over half of the results reported the mineralisation has been extended in all directions and remains open
Results from 67 of the 108 holes drilled have extended the area of the Mineral Resource estimate by several hundred metres to the north, east and the west. The mineralisation appears to have been closed off to the north but remains open in all other directions with broad, high-grade intersections reported at either end of the east-west drill line. The mineralisation occurs as a weathered blanket, up to 65 metres in thickness, draped across the top of the 3.8 square kilometre carbonatite intrusion. The results expected shortly from the 41 holes drilled in the 2,200 by 900 metre southern area of the carbonatite are expected to further extend the mineralisation.
Executive Director Dave Hammond commented: “These broad intersections of high‐grade mineralisation from surface are exceptional and they follow on from similar intersections reported in earlier holes. With just over half of the drill results received to date it’s clear that much of the weathered blanket covering the 3.8 square kilometre carbonatite is mineralised and that we are already looking at the potential for a very substantial expansion of the maiden Mineral Resource estimate. We are eagerly anticipating the results from the remaining 41 holes in the untested southern area, which has considerable potential to add further extensions to the mineralisation. Once all the results have been received, we look forward to reporting an upgraded Mineral Resource estimate early in 2019.”
Please contact the desk or your adviser on +61 8 6168 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.