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07 February 2019 07:41 AM
Overseas Market Report
Current Level
Previous
Change
Daily % Change
Monthly % Change
Dow Jones Industrial Average
25,390
25,412
-21.00
-0.08
7.90
S&P 500
2,732
2,738
-6.00
-0.22
7.13
NASDAQ
7,375
7,402
-27.00
-0.36
8.09
FTSE 100 Index
7,173
7,177
-4.00
-0.06
5.32
DAX 30
11,325
11,368
-43.00
-0.38
5.37
CAC 40 Index
5,079
5,083
-4.00
-0.08
7.63
Nikkei 225 (Japan)
20,874
20,844
30.00
0.14
4.17
HKSE
27,990
27,931
59.00
0.21
9.23
SSE Composite Index
2,618
2,585
34.00
1.30
4.11
S&P/TSX Composite Index
15,712
15,703
10.00
0.06
8.33
NZ 50
9,138
9,074
65.00
0.71
4.51
US Volatility (Vix)
15
Overseas Market Report
US sharemarkets were weaker on Wednesday as investors mulled latest earnings results. Tech stocks were supported by gains in chipmakers. But video game makers fell. Shares in Electronic Arts fell 13.3% after earnings fell short of forecasts. Shares in Capri Holdings (formerly Michael Kors) rose 11.3% after it raised its revenue forecast. At the close of trade the Dow Jones index was down by 21 points or 0.1%. The S&P500 index was down by 0.2%. And the Nasdaq index was lower by 27 points or 0.4%.
Global oil prices rose on Wednesday. Crude oil stocks rose by 1.63 million barrels in the past week, short of forecasts for a 2.179m barrel gain. The 513,000 barrel lift in gasoline stocks in the past week also fell short of forecasts. But a stronger US dollar limited gains in crude prices. A stronger greenback makes US dollar denominated commodities more expensive for European and Asian buyers. Brent crude rose by US71 cents or 1.1% to US$62.69 a barrel and the US Nymex price rose by US35 cents or 0.7% toUS$54.01 a barrel.
Base metal prices were mixed on the London Metal Exchange on Wednesday. Copper and tin rose 0.7% while other metals fell by up to 1.3% with zinc down the most.
The gold futures price fell by US$4.80 an ounce or 0.4% to $1,314.40 an ounce. The spot gold price was near US$1,306 an ounce in late US trade. Iron ore was unchanged at US$86.65 a tonne.
Commodities
Current Level
Previous
Change
Daily % Change
Monthly % Change
Oil Brent
62.69
61.98
0.71
1.15
9.87
Oil - West Texas crude
53.98
54.01
-0.03
-0.06
11.25
Gold Spot $/OZ
1,308.00
1,307.00
1.00
0.08
1.43
Silver Spot $/OZ
15.70
15.70
0.00
0.03
0.17
Iron Ore
81.10
79.30
1.80
2.27
14.86
Thermal Coal Newcastle
98.30
98.30
0.00
0.00
-1.21
Coking Coal FOB ECP AUS
0.00
0.00
0.00
0.00
0.00
Aluminium ($US/t)
1,881
1,899
-18.00
-0.93
0.60
Copper Mar-18 ($US/lb)
2.83
2.84
-1.00
-0.37
7.17
Lead ($US/t)
2,070
2,084
-14.00
-0.67
6.80
Nickel ($US/t)
12,856
12,978
-123.00
-0.95
16.42
Zinc ($US/t)
2,705
2,742
-37.00
-1.34
7.77
Tin ($US/t)
21,055
20,910
145.00
0.69
7.54
Uranium ($US/lb)
29.00
29.00
0.00
0.00
0.52
Australian Market Report
Current Level
Previous
Change
Daily % Change
Monthly % Change
ASX All Ords
6,138
6,092
46.00
0.76
6.85
S&P/ASX 200
6,072
6,026
45.00
0.75
6.83
ASX 24 Futures
6,009
Australian Market Report
Wednesday 06 November - close. Australian shares have finished higher for a third straight day, while the Australian dollar has hit the skids after the Reserve Bank opened the door to a possible rate cut. The benchmark S&P/ASX200 index closed up 20.2 points, or 0.34 per cent, at 6,026.1 points at 1615 AEDT on Wednesday, while the broader All Ordinaries was up 23.7 points, or 0.39 per cent, at 6,091.8.
Ashanti Headlines
Alliance Mineral Assets Limited (A40.ASX, 17.5cps, m.cap A$231.7m with 1305.3m SOI, Cash A$13m, Polymetallic Explorer / Developer)
Alliance have announced record monthly production of 13,160t of lithium concentrate grading an estimate 6.15% Li2O for January 2019 from its Bald Hill Lithium and Tantalum Mine in WA.
Jan 2019 total lithium concentrate production was 28% higher than December 2018 production
131,400t of ore was processed at an average throughput of 237 tph with 87.6% net utilisation, which equates to 30% above nameplate and 23% more throughput than December 2018.
Head grade was 0.93% Li2O and gross recovery 64.2%.
A total of 23,232 wmt (estimated 22,928 dmt) of lithium concentrate shipped on the 2nd and 3rd of February. Revenue from these shipments expected to be approximately A$26 million, subject to final assay.
An additional 30,000t lithium concentrate is expected to be shipped or ready for shipment during March 2019 quarter.
A total of 20t high grade tantalum grading approximately 30% Ta2O5 was shipped in January 2019.
An additional shipment of 20t high grade tantalum grading approximately 30% Ta2O5 is expected to depart on 8 February 2019.
Production guidance for the half year to 30 June 2019 remains at 65,000 to 80,000t of lithium concentrate.
Mark Calderwood, Managing Director commented “Lithium concentrate production for January 2019 was up 28% on December 2018 total production and is an excellent start to the current quarter. The quantity of lithium concentrate shipped over the last week is also a record for Alliance. A number of requests for lithium concentrate are currently being reviewed and we expect to ship, or have ready for shipment an additional 30,000t of premium quality lithium concentrate during the quarter. Interest in long term off take for Bald Hill’s high-grade lithium concentrate remains strong.”
Please contact the desk on +61 8 6169 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.
