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02 May 2019 06:50 AM
Overseas Market ReportCurrent
PreviousChangeDaily %
Monthly %
Dow Jones Industrial Average26,43026,593-163.00-0.610.96
S&P 5002,9242,946-22.00-0.751.97
FTSE 100 Index7,3857,418-33.00-0.44-0.08
DAX 3012,344016.000.135.67
CAC 40 Index5,5865,5815.000.103.35
Nikkei 225 (Japan)22,25922,308-49.00-0.224.97
SSE Composite Index3,0783,06216.000.52-2.90
S&P/TSX Composite Index16,50316,581-78.00-0.471.47
NZ 509,9709,9663.000.030.11
US Volatility (Vix)15
Overseas Market Report

US sharemarkets were lower on Wednesday. Markets weakened after the Fed decision with chair, Jerome Powell, down playing factors that had pointed to a potential rate cut later in the year. But shares in Apple rose by 4.9% in response to its earnings result released after the bell on Tuesday. The Dow Jones fell by 163points or 0.6% after being up by 96 points earlier in the session. The S&P500 index fell by 0.8% from record highs. And the Nasdaq index lost 46 points or 0.6%.

Global oil prices were mixed on Wednesday but Nymex crude fell after data showed that US crude inventories rose by more than expected in the past week. US crude inventories rose by 9.9 million barrels to 470.6 million barrels as imports grew to their highest since January. The Brent crude price rose by US12 cents or 0.2% to US$72.18 a barrel. But the US Nymex fell by US31 cents or 0.5% to US$63.60 a barrel.

Base metal prices were lower by up to 3.7% on Wednesday with lead down the most and copper and zinc down more than 3%. But aluminium rose by up to 1.3%.

The gold futures price fell by US$1.50 an ounce or 0.1% to $1,284.20 an ounce. But the spot gold price was lower after the Fed decision, near US$1,276 an ounce in late US trade. Iron ore was unchanged at US$94.55 a tonne.

PreviousChangeDaily %
Monthly %
Oil Brent72.1872.
Oil - West Texas crude63.5063.60-0.10-0.161.47
Gold Spot $/OZ1,278.001,
Silver Spot $/OZ14.7014.700.000.13-2.80
Iron Ore87.2087.40-0.30-0.297.22
Thermal Coal Newcastle87.2087.30-0.10-0.115.70
APAC Hard Coking Coal FOB196.00202.00-6.00-2.970.77
Aluminium ($US/t)1,8071,78324.001.35-3.68
Copper Mar-18 ($US/lb)2.802.90-9.80-3.39-4.15
Lead ($US/t)1,8341,904-71.00-3.70-8.44
Nickel ($US/t)12,10012,132-32.00-0.26-7.07
Zinc ($US/t)2,8622,960-98.00-3.31-4.46
Tin ($US/t)19,63919,741-102.00-0.52-8.76
Uranium ($US/lb)25.0025.000.000.00-0.98
Australian Market ReportCurrent
PreviousChangeDaily %
Monthly %
ASX All Ords6,4666,41848.000.752.19
S&P/ASX 2006,3766,32550.000.802.14
ASX 24 Futures6,320
Australian Market Report

Wednesday 01 May - close. A strong first-half performance by ANZ has lifted the financial sector, pushing the Australian share market higher. The benchmark S&P/ASX200 index closed up 50.4 points, or 0.8 per cent, to 6,375.9 points at 1615 AEST on Wednesday, while the broader All Ordinaries closed up 48.1 points, or 0.75 per cent, to 6,466.5.

Ashanti Headlines

AuMake International Ltd (AU8.ASX, 15.5cps, m.cap A$48.4m with 312.1m SOI, Cash c$12.5m post placement (Consumer Discretionary)

AuMake International Limited is pleased to advise that, in line with the Company’s improved financial performance and anticipated profitability, it has been offered a facility by American Express (Global Commercial Services) with an effective transaction rate of 0.15%. The rate offered is significantly more cost effective than a standard loan facility and is also unsecured. The initial credit limit provided is $320,000 which in anticipated to increase to 30% of monthly sales over the next 12 months. 

This facility will be used to fund the Company’s future inventory requirements which is expected to increase due to: 

  • Strong growth currently being observed in online sales (currently 30% of total sales and increasing) 
  • Anticipated exponential increase in Chinese tourist visitation due to the acquisition of Broadway and their relationships with over 100 travel agencies in China. 

Please contact the Ashanti Desk if you would like to discuss the AuMake story in more detail - Steve Martin+61 8 6243 1884 | Duncan Relf +61 8 6169 2669

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ERA Communications