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05 March 2019 08:14 AM
Overseas Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Dow Jones Industrial Average25,82026,026-207.00-0.791.61
S&P 5002,7932,804-11.00-0.392.01
NASDAQ7,5787,595-18.00-0.232.37
FTSE 100 Index7,1347,10728.000.39-0.60
DAX 3011,59311,602-9.00-0.081.98
CAC 40 Index5,2875,26521.000.414.00
Nikkei 225 (Japan)21,82221,603219.001.024.69
HKSE28,96028,812147.000.513.46
SSE Composite Index3,0282,99434.001.1215.63
S&P/TSX Composite Index16,03816,068-30.00-0.192.14
NZ 509,4019,413-13.00-0.143.60
US Volatility (Vix)15
Overseas Market Report

US sharemarkets fell on Monday, reversing early gains. Investors took profit following disappointing economic data. Other traders blame technical factors for driving the markets lower - there have been solid gains since Christmas without a pullback. At the close of trade the Dow Jones index was lower by 207 points or 0.8% after earlier being up 129 points and down by 414 points. The S&P500 index was lower by 0.4%. And the Nasdaq index was down by 18 points or 0.2%.

Global oil prices rose on Monday. Traders attribute the gains to continued optimism about a US-China trade deal. Supply cuts from OPEC+ nations also support crude prices. A Reuters survey found that "crude supply from OPEC fell to a four-year low in February, a stop exporter Saudi Arabia cut production more than it had agreed to, and as U.S. sanctions on Venezuelan oil took effect." Brent crude rose by US60 cents or 0.9% to US$65.67 a barrel and the US Nymex price rose by US79 cents or 1.4% to US$56.59 a barrel.

Base metal prices were lower by up to 2.4% on Monday with aluminium down the most while tin fell just 0.8%. Nickel rose against the trend, up by 0.4%.

The gold futures price fell by US$11.70 an ounce or 0.9% to $1,287.50 an ounce on Monday. The spot gold price was near US$1,286 an ounce in late US trade. Iron ore fell by US50 cents or 0.6% to US$86.80 a tonne.

CommoditiesCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Oil Brent65.6765.070.600.925.06
Oil - West Texas crude56.3856.59-0.21-0.375.07
Gold Spot $/OZ1,286.001,287.00-0.50-0.04-2.21
Silver Spot $/OZ15.1015.100.00-0.07-4.88
Iron Ore82.9081.601.301.562.23
Thermal Coal Newcastle98.2097.001.201.19-0.05
Coking Coal FOB ECP AUS0.000.000.000.000.00
Aluminium ($US/t)1,8521,897-45.00-2.36-2.28
Copper Mar-18 ($US/lb)2.912.93-2.30-0.774.17
Lead ($US/t)2,0942,130-37.00-1.74-0.88
Nickel ($US/t)13,17113,11457.000.43-0.17
Zinc ($US/t)2,7702,822-52.00-1.84-1.37
Tin ($US/t)21,53421,710-176.00-0.813.12
Uranium ($US/lb)28.0028.000.000.00-3.11
Australian Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
ASX All Ords6,2676,303-35.00-0.563.28
S&P/ASX 2006,1856,217-33.00-0.532.98
ASX 24 Futures6,176
Australian Market Report

Monday 4 March - close. Australian shares have closed higher, although a broad rally at the open had lost its momentum a bit by the afternoon. The benchmark S&P/ASX200 index finished up 24.7 points, or 0.4 per cent, to 6,217.4 points at 1615 AEDT on Monday, while the broader All Ordinaries was up 24.7 points, or 0.46 per cent, at 6,320.4.

Ashanti Headlines

Invictus Energy Limited: (IVZ.ASX, 4.3 cps, m.cap A$15.7m with 365.7m SOI, Cash ~$3.1m, O&G Explorer) 

  • IVZ has received fast-track data for 2 key lines covering the Mzarabani structure which has resulted in a significant improvement in the seismic imaging of the subsurface.
  • The new data will enable IVZ to better map the Upper Angwa primary target as well as the horizons above and below in this massive, stacked target
  • Final deliverables are expected in April
  • Full dataset will enable IVZ to map additional prospects and leads in the remainder of the acreage
  • The better imaging, particularly along the basin margin will allow IVZ to delineate the anticipated traps that comprise the basin margin play
  • This play type has been hugely successful in Uganda (“Rift Flank” play) and Kenya (“String of Pearls” play)
  • Post interpretation, a final CPR will be released
  • The Company will continue with its geological and geophysical studies leading into a planned marketing programme to attract a farm-out partner
  • A link to the full announcement can be found here
  • Please contact our adviser or the desk on +61 8 6169 2668 should you wish to discuss further


Have a question? admin@ashanticapital.com.au

ERA Communications