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14 June 2019 06:50 AM
Overseas Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Dow Jones Industrial Average26,10726,005102.000.392.25
S&P 5002,8922,88012.000.412.02
NASDAQ7,8377,79344.000.571.33
FTSE 100 Index7,3697,3681.000.011.75
DAX 3012,169053.000.441.48
CAC 40 Index5,3765,3751.000.010.64
Nikkei 225 (Japan)21,03221,130-98.00-0.46-0.17
HKSE27,29527,308-14.00-0.05-2.94
SSE Composite Index2,9112,9091.000.050.94
S&P/TSX Composite Index16,23916,22712.000.07-0.28
NZ 5010,20710,224-17.00-0.171.35
US Volatility (Vix)16
Overseas Market Report

US sharemarkets rose on Thursday. Shares in energy companies rose in response to a higher crude oil price. The S&P 500 energy index rose by 1.25%. After trading in a 151-point range, the Dow Jones index closed higher by 102 points or 0.4%. The S&P500 index rose by 12 points or 0.4% and the Nasdaq gained 44 points or 0.6%. 

Global oil prices rose by 2.2% on Thursday. Attacks on two tankers in the Gulf of Oman, raised fears about a short-term disruption to global supplies. According to three ship brokers cited by Reuters, oil tanker owners DHT Holdings and Heidmar have suspended new bookings to the Mid-East Gulf. But OPEC has forecast that global crude oil demand will be 70,000 barrels per day less than expected at 1.14 million bpd. Brent crude rose by US$1.34 or 2.2% to US$61.31 a barrel. And the US Nymex rose by US$1.14 or 2.2% to US$52.28 a barrel. 

Base metal prices were mixed on Thursday. Zinc, lead and aluminium fell by up to 1.7% while other metals were largely flat.

The gold futures price rose by US$8.20 an ounce or 0.6% to $1,345.00 an ounce. The spot gold price was trading near US$1,341 an ounce in late US trade. Iron ore rose by US$3.70 or 3.5% to US$110.20 a tonne.

CommoditiesCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Oil Brent61.3159.971.342.23-12.70
Oil - West Texas crude52.1352.28-0.15-0.29-15.62
Gold Spot $/OZ1,344.001,342.001.500.113.62
Silver Spot $/OZ14.9014.900.000.150.92
Iron Ore101.2098.502.702.7215.02
Thermal Coal Newcastle71.9072.00-0.10-0.14-16.01
APAC Hard Coking Coal FOB193.00193.50-0.50-0.26-4.46
Aluminium ($US/t)1,7561,760-4.00-0.20-1.21
Copper Mar-18 ($US/lb)2.662.660.100.04-2.82
Lead ($US/t)1,8981,917-20.00-1.027.31
Nickel ($US/t)11,76211,7575.000.040.03
Zinc ($US/t)2,5842,628-44.00-1.66-4.58
Tin ($US/t)19,53319,5303.000.020.14
Uranium ($US/lb)25.0025.000.00-0.600.61
Australian Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
ASX All Ords6,6196,629-10.00-0.154.61
S&P/ASX 2006,5426,544-1.00-0.024.85
ASX 24 Futures6,555
Australian Market Report

Wednesday 12 June - close. The Australian share market has closed flat as the heavyweight mining and finance sectors pulled in opposite directions. The benchmark S&P/ASX200 index finished down 2.6 points, or 0.04 per cent, to 6,543.7 points at 1615 AEST on Wednesday, while the broader All Ordinaries was up 4.5 points, or 0.07 per cent, to 6,628.9.

Ashanti Headlines

Moxico Resources Plc - Successful US$30m Placement

Moxico Resources Plc has announced that it has successfully raised in excess of US$30,000,000 by way of a pre-IPO Placement. The Company led by Alan Davies is now sufficiently funded to progress phase 1 development of its flagship Mimbula asset in Zambia which is targeting first production in H1 2020 to coincide with a mainboard LSE listing.

Highlights

  • 100 million new Ordinary Shares placed with existing and new shareholders and directors to raise in excess of USD30m before expenses.
  • Placing price of 24 pence per share.
  • Proceeds of the Placing will be used to bring Mimbula Phase 1 into production.

Chairman of Moxico Peter Wynter Bee commented, “I would like to thank the hard work of Alan Davies in bringing together a team of brokers, Numis Securities, Tamesis Partners and Ashanti Capital who together have made this placing possible. Alan Davies and his strong team are now in a position to bring Mimbula Phase 1 into production and to drive forward the other projects which he has brought into the Company.”

Pensana Metals Ltd: (PM8.ASX, 2.6cps, m.cap A$38m with 1,462.2m SOI, Cash $6m, Rare Earths explorer)

  • Fidelity (FIL) have lodged another substantial shareholder notice this morning increasing their stake to 10% of the Company
  • FIL's stake is an endorsement from a global institution that has taken a committed view on the Longonjo project.
  • Momentum continues to build in the Rare Earth Sector as users look to secure future supply.
  • Please contact the desk or your adviser on +61 8 6169 2668 should you wish to discuss further.

Have a question? admin@ashanticapital.com.au

ERA Communications