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10 April 2019 06:50 AM
Overseas Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Dow Jones Industrial Average26,15126,341-190.00-0.722.75
S&P 5002,8782,896-18.00-0.614.93
NASDAQ7,9097,954-45.00-0.566.76
FTSE 100 Index7,4267,452-26.00-0.354.52
DAX 3011,85111,963-113.00-0.943.43
CAC 40 Index5,4365,472-35.00-0.653.92
Nikkei 225 (Japan)21,80321,76241.000.193.70
HKSE30,15730,07780.000.276.83
SSE Composite Index3,2403,245-5.00-0.169.08
S&P/TSX Composite Index16,33616,407-71.00-0.432.13
NZ 509,7369,787-51.00-0.523.13
US Volatility (Vix)14
Overseas Market Report

US sharemarkets fell on Tuesday. Investors digested the downwardly-revised economic growth forecasts from the IMF. Investors also monitored new trade tensions between the US and Europe. The Dow Jones index fell by 190 points or 0.7%. The S&P500 index fell for the first time in nine days, down by 0.6%. And the Nasdaq index lost almost 45 points or 0.6%.

Global oil prices fell on Tuesday. The IMF cut global economic growth forecasts. At the same time, Russia signalled that it may seek to renegotiate its production cutting deal with OPEC. Brent crude fell by US49 cents or 0.7% to US$70.61 a barrel and US Nymex fell by US42 cents or 2.1% to US$64.40 a barrel.

Base metal prices were mixed. Lead and zinc fell by up to 1.2% while other metals rose by up to 0.4%.

The gold futures price rose by US$6.40 an ounce or 0.5% to $1,308.30 an ounce. The spot gold price was near US$1,304 an ounce in late US trade. Iron ore fell by US$1.65 or 1.7% to US$93.40 a tonne.

CommoditiesCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Oil Brent70.6171.10-0.49-0.697.41
Oil - West Texas crude64.2063.980.220.3414.50
Gold Spot $/OZ1,305.001,304.000.500.030.47
Silver Spot $/OZ15.2015.200.000.05-0.73
Iron Ore85.6086.20-0.60-0.731.88
Thermal Coal Newcastle81.2080.400.801.00-15.02
Aluminium ($US/t)1,8511,8447.000.370.37
Copper Mar-18 ($US/lb)2.932.93-0.10-0.051.33
Lead ($US/t)1,9561,972-16.00-0.82-5.67
Nickel ($US/t)13,11413,10014.000.100.85
Zinc ($US/t)2,9212,956-35.00-1.187.25
Tin ($US/t)20,96720,94027.000.13-2.11
Uranium ($US/lb)26.0026.000.000.00-7.68
Australian Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
ASX All Ords6,3156,3115.000.070.45
S&P/ASX 2006,2226,2210.000.010.29
ASX 24 Futures6,185
Australian Market Report

Tuesday 09 April - close. Australian shares have closed flat, with US casino operator Wynn Resorts' $10 billion takeover offer for Crown Resorts providing most of the day's excitement. The benchmark S&P/ASX200 index closed up 0.4 points, or 0.01 per cent, to 6,221.8 points on Tuesday, while the broader All Ordinaries was up 4.7 points, or 0.07 per cent, to 6,315.5.

Ashanti Headlines

Invictus Energy Limited: (IVZ.ASX, 3.9 cps, m.cap A$15.2m with 365.7m SOI, Cash ~$3.1m, O&G Explorer) 

IVZ has announced it has received the final reprocessed seismic dataset over the weekend and the results are excellent.

Highlights

• Final reprocessed 2D seismic dataset received

• Data quality is excellent, improving definition over the Giant Mzarabani Prospect and basin margin fault

• New Basin Margin opportunities now evident on reprocessed seismic data

• Analogous to “String of Pearls” discoveries in East Africa Rift System

The imaging over the giant Mzarabani structure and along the basin bounding fault is particularly pleasing and we can see evidence of the same “String of Pearls” play type that has been very successful in Uganda and Kenya. These also appear to be stacked targets as well. IVZ will commence the interpretation of the data which will take several weeks to conclude. Once the interpretation of the full dataset is completed, IVZ expects to add materially to the prospective resource estimate base of the Mzarabani Prospect at 3.9 Tcf + 181 million barrels of gas condensate (gross mean unrisked) from further prospect and lead identification within the acreage. Following on from the seismic interpretation work, a Final Independent Prospective Resource Report encompassing the entire SG 4571 area will be delivered after which the Company will commence a farm out campaign.

A link to the full announcement can be found 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