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14 January 2019 07:24 AM
Overseas Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Dow Jones Industrial Average23,99624,002-6.00-0.02-0.43
S&P 5002,5962,5970.00-0.01-0.14
NASDAQ6,9716,986-15.00-0.210.88
FTSE 100 Index6,9186,943-25.00-0.361.07
DAX 3010,88710,922-34.00-0.310.20
CAC 40 Index4,7814,806-24.00-0.51-1.49
Nikkei 225 (Japan)20,36020,164196.000.97-4.75
HKSE26,66726,521146.000.552.19
SSE Composite Index2,5542,53519.000.74-1.54
S&P/TSX Composite Index14,93914,90336.000.242.36
NZ 508,9408,960-20.00-0.222.49
US Volatility (Vix)18
Overseas Market Report

US sharemarkets ended flat on Friday as investors squared positions ahead of the start of earnings (profit-reporting) season. Shares in General Motors rose 7.05% after delivering a strong earnings forecast for 2019. Shares in Netflix rose 4% with Reuters citing "analysts' optimistic forecasts for subscriber growth". The energy sector fell in response to a lower oil price. The Dow Jones fell by 6 points or less than 0.1%, after trading in a range of almost 200 points. The S&P500 index was down less than 1 point. The Nasdaq index was lower by 15 points or 0.2%. Over the week the Dow rose by 2.4%, the S&P 500 rose by 2.5% and the Nasdaq rose by 3.5%.

Global oil prices fell by 1.9% on Friday, snapping a 9-day winning streak. Investors took profits after solid gains over the past fortnight. The number of oil rigs in operation in the US fell by 4 to 873 last week. Brent crude fell by US$1.20 or 2% to US$60.48 a barrel and the US Nymex price fell by US$1.00 or 1.9% to US$51.59 a barrel. Over the week Brent rose by 6% and Nymex rose by 3.3%.

Base metal prices rose by up to 2% on the London Metal Exchange with nickel up the most. But aluminium fell by 1.5% while copper rose only 0.2%. Over the week metals were mixed. Aluminium fell 3% and zinc fell 0.5% but tin rose 4.1% and nickel rose by 3.4%.

The gold futures price rose by US$2.10 an ounce or 0.2% to $1,289.50 an ounce. The spot gold price was trading near US$1,287 an ounce in late US trade. Over the week gold rose by US$3.70 or 0.3%. Iron ore rose by US5 cents or 0.1% to US$74.70 a tonne. Over the week iron ore rose by US$1.25 or 1.7%.

CommoditiesCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Oil Brent60.9060.480.420.691.03
Oil - West Texas crude51.9451.590.350.681.45
Gold Spot $/OZ1,289.001,288.001.000.084.04
Silver Spot $/OZ15.6015.600.000.107.14
Iron Ore72.7072.400.300.377.81
Thermal Coal Newcastle98.1097.800.200.20-4.01
Coking Coal FOB ECP AUS0.000.000.000.000.00
Aluminium ($US/t)1,8131,841-28.00-1.52-5.94
Copper Mar-18 ($US/lb)2.652.66-0.80-0.30-3.86
Lead ($US/t)1,9891,96424.001.231.20
Nickel ($US/t)11,41411,194220.001.976.71
Zinc ($US/t)2,4982,47623.000.91-6.34
Tin ($US/t)20,38020,215165.000.826.43
Uranium ($US/lb)29.0029.000.000.000.52
Australian Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
ASX All Ords5,8585,83523.000.403.16
S&P/ASX 2005,7985,77523.000.403.49
ASX 24 Futures5,737
Australian Market Report

Friday 11 January - close. The Australian share market hasn't been able to sustain its four-day rally despite strong retail sales figures, with banks and miners weighing on the bourse. The benchmark S&P/ASX200 index was down 20.7 points, or 0.36 per cent, to close at 5774.6 at 1615 on Friday. That's still a gain of 2.8 per cent for the week and 6.8 per cent since the index's Christmas Eve low. The broader All Ordinaries was down 19.1 points, or 0.33 per cent, to close at 5834.8.

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