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08 April 2019 08:10 AM
Overseas Market ReportCurrent
PreviousChangeDaily %
Monthly %
Dow Jones Industrial Average26,42526,38540.000.153.83
S&P 5002,8932,87913.000.465.46
FTSE 100 Index7,4477,40245.000.614.82
DAX 3012,01011,98822.000.184.82
CAC 40 Index5,4765,46412.000.234.68
Nikkei 225 (Japan)21,80821,72583.000.383.72
SSE Composite Index3,2473,21630.000.946.30
S&P/TSX Composite Index16,39616,31285.000.522.50
NZ 509,8229,857-36.00-0.364.04
US Volatility (Vix)13
Overseas Market Report

US sharemarkets were firmer on Friday. Firm jobs data eased fears of an economic slowdown. Oil stocks rose as oil prices lifted. US-China trade talks will continue in the coming week by video-link. A number of US banks will release earnings figures in the coming week. The Dow Jones index rose by 40 points or 0.2%. The S&P500 index rose for the seventh straight day, up by 0.5%. And the Nasdaq index rose by 47 points or 0.6%. Over the week the Dow rose 1.9% with the S&P 500 up 2.1% and the Nasdaq rose by 2.7%.

Global oil prices rose on Friday to 5-month highs. Stronger-than expected US job figures eased demand concerns. The prospect of military action in Libya could also crimp crude supplies in the short term. But the number of US oil rigs in operation rose by 15 last week to 831. Brent crude rose by US94 cents or 1.4% to US$70.34 a barrel and US Nymex rose by US98 cents or 1.6% to US$63.08 a barrel. Over the week Brent rose 2.9% and Nymex rose by 4.9%.

Base metal prices were lower by up to 0.7% with nickel and tin down the most. But zinc bucked the trend, up 0.4%. Over the week metals fell by between 0.6-1.8% with zinc down the least and lead down the most. But nickel rose by 0.7%.

The gold futures price rose by US$1.30 an ounce or 0.1% to $1,295.60 an ounce. The spot gold price was near US$1,291 an ounce in late US trade. Over the week gold fell by US$2.90 or 0.2%. Iron ore fell by US10 cents or 0.1% to US$92.80 a tonne. Over the week iron ore rose by US$5.75 or 6.6%.

PreviousChangeDaily %
Monthly %
Oil Brent70.6970.340.350.507.53
Oil - West Texas crude63.4163.080.330.5213.09
Gold Spot $/OZ1,292.001,292.000.500.04-0.48
Silver Spot $/OZ15.1015.100.000.12-1.39
Iron Ore86.2083.702.502.943.99
Thermal Coal Newcastle78.9077.701.101.48-19.58
Coking Coal FOB ECP AUS0.
Aluminium ($US/t)1,8641,872-8.00-0.410.81
Copper Mar-18 ($US/lb)2.892.890.000.000.02
Lead ($US/t)1,9651,972-7.00-0.37-5.71
Nickel ($US/t)12,98713,082-95.00-0.72-4.32
Zinc ($US/t)2,9812,96813.000.446.42
Tin ($US/t)21,13021,270-140.00-0.66-2.16
Uranium ($US/lb)26.0026.000.000.00-8.53
Australian Market ReportCurrent
PreviousChangeDaily %
Monthly %
ASX All Ords6,2906,27120.000.320.05
S&P/ASX 2006,2026,18121.000.34-0.03
ASX 24 Futures6,192
Australian Market Report

Friday 05 April - close. The Australian share market has slumped lower for a second straight day, leaving it flat for the week. The benchmark S&P/ASX200 index closed down 51.5 points, or 0.83 per cent, to 6,181.3 points at 1615 AEDT on Friday, while the broader All Ordinaries was down 49.8 points, or 0.79 per cent, to 6,270.6.

Ashanti Headlines

Alliance Mineral Assets Limited (A40.ASX, 18.5cps, m.cap A$241.5m with 1305.3m SOI, Cash A$13m, Polymetallic Explorer / Developer)

  • AMAL has announced record lithium production at the Bald Hill Lithium and Tantalum Mine in Western Australia for the quarter ended 31st March 2019. It was also a record shipping period for the Company:
    • A total of 38,291 wmt of high grade spodumene concentrate produced for the March Quarter grading 6.1% Li2O (68% increase on pcp of 22,724 wmt).
    • Record monthly production in March 2019 of 15,012 wmt with a recovery of 70% of gross feed and 79% of net feed (after removal of unprocessed fines).
    • A total of 44,305 dmt of concentrate was shipped during the March Quarter (almost 100% increase on pcp). Shipments comprised regular sales to Jiangxi Bao Jiang Lithium Industrial Limited and a trial parcel to a new customer
    • March Quarter tantalum pentoxide production of 34,380Lbs was in line with the December 2018 quarter production of 32,700Lbs. Three shipments totalling 38,935Lbs of contained tantalum pentoxide were made during the March Quarter
    • Bald Hill produces a premium coarse concentrate with very low levels of Fe, K, mica, moisture and less than 2% ulta-fines (<500 microns).
  • MD Mark Calderwood commented "It has been an excellent quarter as the Mine continues to ramp up concentrate production through increased throughput, improved grades and recovery. We are well on track to meet our guidance for the first half of 2019 of 65,000 wmt to 80 wmt of lithium concentrate produced. Bald Hill's coarse spodumene concentrate is being recognised by the industry as a premium product due to its coarse size, low fines and very low level of Fe and other deleterious elements. The Company expects to select its preferred customers for the remaining off-take over the next few months."
  • Please contact the desk on +61 8 6169 2668 should you want to discuss further.

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