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27 March 2019 06:50 AM
Overseas Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Dow Jones Industrial Average25,65825,517141.000.55-1.26
S&P 5002,8182,79820.000.720.93
NASDAQ7,6927,63854.000.711.81
FTSE 100 Index7,1967,17819.000.261.25
DAX 3011,41911,34773.000.64-0.59
CAC 40 Index5,3075,26147.000.891.57
Nikkei 225 (Japan)21,42820,977451.002.15-0.59
HKSE28,56728,52344.000.15-0.66
SSE Composite Index2,9973,043-46.00-1.511.46
S&P/TSX Composite Index16,15516,06689.000.560.50
NZ 509,6039,57529.000.303.47
US Volatility (Vix)15
Overseas Market Report

US sharemarkets were firmer on Tuesday. All major sectors rose. Higher oil prices lifted the energy sector. But shares in Apple fell 1.0% after a trade judge ruled that Apple infringed a Qualcomm patent. Shares in Viacom rose 7.6% after the New York Post reported the company and CBS Corp were rekindling merger talks. The Dow Jones index ended firmer by 141 points or 0.6%. The S&P500 index rose by 0.7%. And the Nasdaq index rose by 54 points or 0.7%.

Global oil prices were higher on Tuesday. Reuters reported: "Venezuela's main oil export port of Jose and its four crude upgraders have been unable to resume operations following a massive power blackout on Monday, the second in a month,according to industry workers and a union leader close to the facilities." Brent crude rose by US76 cents or 1.1% to US$67.97 a barrel and the US Nymex price rose by US$1.12 or 1.9% to US$59.94 a barrel.

Base metal prices were generally higher on Tuesday. Zinc rose by 1.8% and nickel rose 1%. But lead lost 0.8% and tin lost 0.3%.

The gold futures price fell by US$7.60 an ounce or 0.6% to $1,315 an ounce. The spot gold price was near US$1,316 an ounce in late US trade. Iron ore fell by US15 cents or 0.2% to US$84.80 a tonne.

CommoditiesCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Oil Brent67.9767.210.761.134.23
Oil - West Texas crude59.9359.94-0.01-0.025.25
Gold Spot $/OZ1,316.001,316.000.500.03-0.28
Silver Spot $/OZ15.4015.400.000.03-1.92
Iron Ore81.3081.90-0.60-0.72-1.55
Thermal Coal Newcastle93.2093.50-0.30-0.37-1.69
Coking Coal FOB ECP AUS0.000.000.000.000.00
Aluminium ($US/t)1,8641,85411.000.57-1.10
Copper Mar-18 ($US/lb)2.852.850.100.04-3.21
Lead ($US/t)1,9721,988-17.00-0.83-5.18
Nickel ($US/t)12,99412,871124.000.960.91
Zinc ($US/t)2,9202,86852.001.805.61
Tin ($US/t)21,34521,410-65.00-0.30-1.95
Uranium ($US/lb)26.0026.000.00-0.39-7.40
Australian Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
ASX All Ords6,2136,2094.000.07-0.33
S&P/ASX 2006,1316,1264.000.07-0.32
ASX 24 Futures6,125
Australian Market Report

Tuesday 26 March - close. Australian shares have closed slightly higher, lifted by utilities and the mining sector even as energy shares and Wesfarmers weighed down the index. The benchmark S&P/ASX200 index closed up 4.4 points, or 0.07 per cent, to 6,130.6 points on Tuesday, while the broader All Ordinaries was also up 4.4 points, or 0.07 per cent, at 6,213.1.

Ashanti Headlines

Greenland Minerals Limited: (GGG.ASX, 5.2cps, m.cap A$58.9m with 1,132.6m SOI, Cash $7.7m, Rare Earth's Developer)

  • Greenland Minerals Ltd has announced it has completed detailed engineering studies to optimise civil design and construction on its 100% owned Rare Earth Kvanefjeld Project in Greenland
  • This builds on the April 2016 Feasibility Study and addresses both processing performance and civil design and engineering, to establish optimal capital and operating costs. The optimisation program has involved inputs from leading industry specialist groups. 
  • Highlights include:
    • Civil construction costs reduced by 44% to US$175M including indirect costs and contingencies
    • Optimised process flowsheet and process engineering design nearing completion
    • Capital and operating cost reductions currently being finalised drawing on highly successful optimisation program  
    • Kvanefjeld on track to become a long‐life, low‐cost producer of rare earth products, critical to clean energy technologies
  • Please see link to full announcement here
  • Please contact the desk on +61 8 6169 2668 should you wish to discuss further.

Have a question? admin@ashanticapital.com.au

ERA Communications