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06 February 2019 08:30 AM
Overseas Market ReportCurrent
PreviousChangeDaily %
Monthly %
Dow Jones Industrial Average25,41225,239172.000.688.44
S&P 5002,7382,72513.000.478.13
FTSE 100 Index7,1777,034143.002.044.97
DAX 3011,36811,177191.001.715.57
CAC 40 Index5,0835,00083.001.667.31
Nikkei 225 (Japan)20,91520,84470.000.346.91
SSE Composite Index2,6182,58534.001.304.11
S&P/TSX Composite Index15,70315,602100.000.648.85
NZ 509,0748,97994.001.053.77
US Volatility (Vix)16
Overseas Market Report

US sharemarkets rose on Tuesday ahead of the State of the Union address. Positive earnings results drove up shares in cosmetics maker Estee Lauder by 11.6% and shares of luxury fashion group Ralph Lauren by 8.4%. Shares in Alphabet (Google) rose by 0.9% in reaction to its earnings result. At the close of trade the Dow Jones index was up by 172 points or 0.7%. The S&P500 index was up by 0.5%. And the Nasdaq index was up by 54.5 pointsor 0.7%.

Global oil prices fell on Tuesday. Recent data has showed a fall  in US factory orders and a slowdown in the US services sector last month, raising fears about the strength of demand for oil. But US sanctions on Venezuela remained in focus, serving to cap global oil supplies. A Reuters survey found that supply from OPEC states had fallen the most in two years in January. Brent crude fell by US53 cents or 0.8% to US$61.98 a barrel and the US Nymex price fell by US90 cents or 1.6% to US$53.66 a barrel.

Base metal prices were mixed on the London Metal Exchange on Tuesday. Zinc, nickel and lead fell by up to 2.4% while other metals rose by up to 1.1% with copper leading the way.

The gold futures price fell by US10 cents an ounce to $1,319.20 an ounce. The spot gold price was near US$1,315 an ounce in late US trade. Iron ore was unchanged at US$86.65 a tonne.

PreviousChangeDaily %
Monthly %
Oil Brent61.9862.51-0.53-0.858.62
Oil - West Texas crude53.7753.660.110.2012.11
Gold Spot $/OZ1,316.001,315.000.400.032.38
Silver Spot $/OZ15.9015.900.000.101.07
Iron Ore81.1079.301.802.2714.86
Thermal Coal Newcastle98.3098.200.100.10-1.21
Coking Coal FOB ECP AUS0.
Aluminium ($US/t)1,8991,8954.000.181.55
Copper Mar-18 ($US/lb)2.822.820.200.076.48
Lead ($US/t)2,0842,112-28.00-1.347.52
Nickel ($US/t)12,97813,194-216.00-1.6317.53
Zinc ($US/t)2,7422,808-66.00-2.369.23
Tin ($US/t)20,91020,88228.000.136.80
Uranium ($US/lb)29.0029.
Australian Market ReportCurrent
PreviousChangeDaily %
Monthly %
ASX All Ords6,0806,06812.000.207.11
S&P/ASX 2006,0136,0067.000.117.00
ASX 24 Futures5,950
Australian Market Report

Tuesday 05 February - close. The Australian share market has had its biggest day in 26 months as investors breathed a sigh of relief the financial services royal commission hadn't recommended harsher penalties for the big banks. The benchmark S&P/ASX200 index closed up 114.7 points, or 1.95 per cent, to 6,005.9 at 1615 AEDT on Tuesday, while the broader All Ordinaries was up 105.1 points, or 1.76 per cent, at 6,068.1.

Ashanti Headlines

Adriatic Metals PLC (ADT.ASX, 79cps, m.cap A$114.4m with 150.5m SOI, Cash cA$14.6m, Polymetallic Explorer / Developer)

  • ADT has announced it has now received from Zenica-Doboj Canton the Urban Planning Permit for the Expanded Concession Annexe 
  • The Company will now immediately apply to the Federal Regulators for the Exploration Permit, which is a technically-focussed procedure.
  • At Rupice, the Concession Extension area includes land where the Company has dentified key drill targets and where additional drilling could identify extensions to the known mineralisation or where historical or recent data indicates the potential for new discoveries.
  • The expanded Concession provides all necessary access to the prospective targets, and once the Exploration Permit is granted it will enable the Company to carry out ground disturbing exploration including drilling. These activities will be focussed on Rupice North, Brestic-Jurasavac and over the significant Gradient Array Induced Polarisation (GAIP) geophysical anomalies which are sub-parallel to Rupice and also those IP chargeability anomalies nearby to Veovaca.
  • In the south of the expanded Concession at Rupice, historical exploration was undertaken at Siroki- Radakovac, Ceo-Sutjeska, Kraljeva, Kraljeva Jama and Zakruzje; which yielded positive results from trenching, underground development and a limited amount of drilling. For the first time since the 1960s Adriatic will be using modern exploration techniques to follow up on these encouraging historical results, see Figure 1.
  • Adriatic’s CEO, Geraint Harris commented “I am very pleased that this key exploration permitting step has been achieved through close cooperation between Adriatic’s BiH team and the significant number of governmental and commercial stakeholders involved in the process. This once again proves that Bosnia & Herzegovina is open for business and very willing to work with companies like Adriatic who wish to explore for minerals in a responsible manner. Our drilling crews have been persevering through recent heavy snowfall and this decision paves the way for our Exploration Permit and then drilling on our highly prospective new Concession areas.”
  • Please contact the desk or your adviser on +61 8 6169 2668 should you wish to discuss further.
  • A link to the full announcement can be found here

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