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21 January 2019 07:23 AM
Overseas Market ReportCurrent
PreviousChangeDaily %
Monthly %
Dow Jones Industrial Average24,70624,370336.001.3810.07
S&P 5002,6712,63635.001.3210.51
FTSE 100 Index6,9686,835133.001.953.68
DAX 3011,20610,919287.002.635.38
CAC 40 Index4,8764,79482.001.703.87
Nikkei 225 (Japan)20,66620,402264.001.292.48
SSE Composite Index2,5962,56036.001.423.17
S&P/TSX Composite Index15,30415,21193.000.619.82
NZ 509,1129,09814.000.164.90
US Volatility (Vix)18
Overseas Market Report

US sharemarkets rose solidly on reports of an easing of trade tensions between the US and China. There were broad-based gains with industrials doing best. But shares of Netflix fell by 4% after the streaming company revealed lower-than-expected earnings in the quarter. At the close of trade the Dow Jones index was higher by 336 points or 1.4%. The S&P500 index was up by 1.3%. The Nasdaq index was higher by 73 points or 1.0%. Over the week the Dow Jones rose by 3%, the S&P 500 rose by 2.9% and the Nasdaq rose by 2.7%.

Global oil prices posted solid gains on Friday. OPEC released details of its plans to wind back production. And there were further signs of a thawing in the US-China trade dispute. Also there was a 21 rig decline in the number of oil rigs in operation in the US in the latest week, hitting 8-month lows. Brent crude rose by US$1.52 or 2.5% to US$62.70 a barrel and the US Nymex price rose by US$1.73 or 0.5% to US$53.80 a barrel. Over the week Brent rose by 3.7% and Nymex rose by 4.3%.

Base metal prices were all higher on the London Metal Exchange with lead up the most (2.2%) while tin only rose only 0.2%. Over the week zinc rose 3.7% and nickel rose 3.1% while lead was flat.

The gold futures price fell by US$9.70 an ounce or 0.8% to $1,282.60 an ounce. The spot gold price was trading near US$1,281 an ounce in late US trade. Over the week gold fell by US$6.90 or 0.5%. Iron ore rose by US$1.20 or 1.6% to US$75.95 a tonne. Over the week iron ore rose by US$1.25 or 1.7%.

PreviousChangeDaily %
Monthly %
Oil Brent62.4362.70-0.27-0.4316.00
Oil - West Texas crude53.5553.80-0.25-0.4617.46
Gold Spot $/OZ1,283.001,282.001.300.102.15
Silver Spot $/OZ15.4015.300.000.064.93
Iron Ore72.7072.100.700.905.05
Thermal Coal Newcastle99.80100.30-0.50-0.55-1.72
Coking Coal FOB ECP AUS0.
Aluminium ($US/t)1,8621,84418.000.96-3.06
Copper Mar-18 ($US/lb)2.712.72-0.80-0.281.23
Lead ($US/t)1,9891,94742.002.161.18
Nickel ($US/t)11,77211,546226.001.969.48
Zinc ($US/t)2,5902,55436.001.420.45
Tin ($US/t)20,73520,69045.000.227.75
Uranium ($US/lb)29.0029.
Australian Market ReportCurrent
PreviousChangeDaily %
Monthly %
ASX All Ords5,9705,94129.000.497.89
S&P/ASX 2005,9065,88027.000.458.02
ASX 24 Futures5,850
Australian Market Report

Friday 18 January - close. Easing US-China trade tensions have helped Australia's big miners, energy companies, and tech stocks soar as the local bourse closes the week at a new two-month high. The benchmark S&P/ASX200 index was up 29.5 points, or 0.5 per cent, to 5,879.6 at 1615 AEDT on Friday, while the broader All Ordinaries was 31.4 points, or 0.53 per cent, higher at 5941.2.

Ashanti Headlines

Adriatic Metals PLC (ADT.ASX, 68.5cps, m.cap A$103.1m with 150.5m SOI, Cash cA$15m, Polymetallic Explorer / Developer)

  • ADT has announced further outstanding assay results from several drill holes from the programme at Rupice. Highlights include:
  • Hole BR-36-18 drilled to test the down-dip extent of mineralisation intersected in BR-3-18 returned:
    • 72m @ 18.3% Zn, 10.7% Pb, 211g/t Ag, 2.5g/t Au, 2.5% Cu, and 25%BaSO4 from 206m.
  • Hole BR-25-18 drilled to the south of historic hole BR-76-89 in an area previously untested, returned:
    • 46m @ 12.7% Zn, 9.6% Pb, 309g/t Ag, 4.1g/t Au, 1.0% Cu, and 40% BaSO4 from 218m.
  • Hole BR-32-18 drilled 35m to the west of BR-25-18 in an area previously untested intersected two mineralised lenses, the lower one returned:
    • 20m @ 8.2% Zn, 5.6% Pb, 479g/t Ag, 4.1g/t Au, 0.5% Cu, and 60% BaSO4 from 228m.
  • Hole BR-33-18 drilled 25m to the east of BR-25-18 in an area previously untested intersected two mineralised lenses, the lower one returned:
    • 36m @ 4.9% Zn, 3.2% Pb, 306g/t Ag, 2.7g/t Au, 0.5% Cu, and 45% BaSO4 from 228m.
  • Hole BR-35-18 drilled 35m to the SE of BR-25-18 in an area also previously untested intersected two mineralised lenses, the lower one returned:
    • 32m @ 2.1% Zn, 2.6% Pb, 220g/t Ag, 2.0g/t Au, 0.2% Cu, and 32% BaSO4 also from 228m.
  • The Company is Targeting a Maiden Mineral Resource estimate at Rupice in H1-CY2019
  • Adriatic’s Chief Executive Officer, Geraint Harris commented, “These drill hole results released today continue to demonstrate not only the exceptional grade, continuity and thickness of the mineralisation at Rupice, but also substantially improve our geologic understanding of this unique region. Our focus in early 2019 will be to extend the high-grade zones to the north and south-east and also to improve our understanding of the system between Rupice North and Jurasevac-Brestic. At Rupice we will declare a Maiden Resource Estimate in the first half of this year. Also, metallurgical, geotechnical and hydro-geological studies are underway, which will feed into a Scoping Study, the Exploitation Permit application and ultimately a Feasibility Study. We look forward to a busy, and successful 2019.”
  • A link to the full announcement can be found here
  • Please contact your advisor or the desk on +61 8 6169 2668 should you wish to discuss further

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