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20 February 2019 07:43 AM
Overseas Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Dow Jones Industrial Average25,89125,8838.000.034.80
S&P 5002,7802,7764.000.154.08
NASDAQ7,4877,47214.000.194.60
FTSE 100 Index7,1797,219-40.00-0.563.03
DAX 3011,30911,29910.000.090.93
CAC 40 Index5,1615,169-8.00-0.165.84
Nikkei 225 (Japan)21,30321,28221.000.103.08
HKSE28,22828,347-119.00-0.424.20
SSE Composite Index2,7562,7541.000.056.15
S&P/TSX Composite Index15,93715,83899.000.634.14
NZ 509,2389,22413.000.141.54
US Volatility (Vix)15
Overseas Market Report

US sharemarkets were higher on Tuesday, underpinned by gains in bellwether stocks - WalMart and Amazon. Shares in WalMart rose 2.2% after holiday-quarter comparable sales beat estimates. The sales data from WalMart also served to lift shares in Amazon by 1.2% as well as Target and Costco. Shares in Mattel rose 1.4% despite a disappointing forecast for sales in 2019. Investors still await news on the China-US trade talks. At the close the Dow Jones index was up by 8 points or less than 0.1%. The S&P500 index was up by 0.2%. And the Nasdaq index was higher by 14 points or 0.2%.

Global oil prices were mixed on Tuesday. Investors waited for news out of the China-US trade talks and were cautious about taking on new positions. Russian and Saudi Arabian leaders said that they supported continued coordination on the global energy markets. Brent crude fell by US5 cents or 0.1% to US$66.45 a barrel but the US Nymex price rose by US50 cents or 0.9% to US$56.09 a barrel.

Base metal prices were firmer on the London Metal Exchange on Tuesday, lifting by up to 1.7% with nickel up the most. Lead was the exception, down 0.6%.

The gold futures price rose by US$22.70 an ounce or 1.7% to $1,344.80 an ounce in response to a weaker US dollar. The spot gold price was near US$1,340 an ounce in late US trade. Iron ore fell by US10 cents or 0.1% US$88.70 a tonne.

CommoditiesCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Oil Brent66.4566.50-0.05-0.085.98
Oil - West Texas crude55.9856.09-0.11-0.204.05
Gold Spot $/OZ1,340.001,341.00-1.00-0.084.54
Silver Spot $/OZ16.0016.000.00-0.104.12
Iron Ore84.1084.80-0.70-0.7715.95
Thermal Coal Newcastle95.2095.000.200.21-4.56
Coking Coal FOB ECP AUS0.000.000.000.000.00
Aluminium ($US/t)1,8291,8245.000.25-1.77
Copper Mar-18 ($US/lb)2.872.87-0.30-0.125.59
Lead ($US/t)2,0042,016-12.00-0.580.75
Nickel ($US/t)12,57812,374205.001.656.86
Zinc ($US/t)2,6802,65625.000.943.47
Tin ($US/t)21,20121,18021.000.102.25
Uranium ($US/lb)29.0029.000.000.00-0.52
Australian Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
ASX All Ords6,1986,18414.000.234.33
S&P/ASX 2006,1216,10714.000.234.10
ASX 24 Futures6,082
Australian Market Report

 Tuesday 19 February - close. Gains by Australia's big four banks have propped up the Australian sharemarket after a day of generally disappointing earnings results. The benchmark S&P/ASX200 index closed up 17.1 points, or 0.28 per cent, at 6,106.9 points at 1615 AEDT on Tuesday, while the broader All Ordinaries was up 13.5 points, or 0.35 per cent, at 6,184.2.

Ashanti Headlines

Cassini Resources Limited: (CZI.ASX, 9.6cps, m.cap A$33.2m with 345.5 SOI, Cash $4.3m, Base Metals Explorer) 

  • Field crews have now mobilised to site in preparation of the CY19 field campaign at the West Musgrave JV (OZL earning 70%, currently has 51% with CZI 49%).
  • Exploration will re-commence with infill drilling at Nebo-Babel, further drill testing of regional exploration targets [One Tree Hill prospect testing a recently defined large EM conductor starting mid-March (see announcement 28 November 2018)] and move to test extensions to mineralisation at Nebo (Sugar Lode) and Succoth infill (see announcement 18 February 2019).
  • The West Musgrave (Nebo-Babel) PFS remains on track for release end of Q2 CY19.
  • The Company has reprioritised its remaining project portfolio with its Yarawindah Brook Ni-Cu-Co Project (CZI option to earn 80%) upgraded on EM conductors, Gold targets at Mount Squires (100% CZI) to be prioritised and the West Arunta Project (100% CZI) downgraded on drill results. 
  • A new corporate presentation was released today as part of the RIU Explorers Conference here.
  • Please contact the desk on +61 8 6169 2668 should you wish to discuss further
  • A link to the full announcement can be found here


Have a question? admin@ashanticapital.com.au

ERA Communications