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17 June 2019 07:33 AM
Overseas Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Dow Jones Industrial Average26,09026,107-17.00-0.071.26
S&P 5002,8872,892-5.00-0.160.96
NASDAQ7,7977,837-40.00-0.52-0.25
FTSE 100 Index7,3467,369-23.00-0.31-0.04
DAX 3012,09612,169-73.00-0.60-1.16
CAC 40 Index5,3685,376-8.00-0.15-1.30
Nikkei 225 (Japan)21,11721,03285.000.40-0.63
HKSE27,11827,295-176.00-0.65-2.96
SSE Composite Index2,8822,911-29.00-0.99-0.01
S&P/TSX Composite Index16,30216,23963.000.39-0.61
NZ 5010,22510,235-11.00-0.110.43
US Volatility (Vix)15
Overseas Market Report

US sharemarkets eased on Friday. Reuters reported that shares of chipmaker, Broadcom, fell 5.6% after it cut its full-year revenue forecast by $2 billion, blaming the US-China trade conflict and export curbs on Huawei. The Dow Jones index closed lower by 17 points or 0.1%. The S&P500 index fell by almost 5 points or 0.2% and the Nasdaq lost 40 points or 0.5%. Over the week the Dow rose by 0.4%, the S&P 500 rose by 0.5% and the Nasdaq gained 0.7%.

Global oil prices rose on Friday. Attacks on two oil tankers in the Gulf of Oman have raised fears about some disruption to oil supplies from the Middle East. But the fears were not enough to prevent oil prices ending lower over the week. The Brent crude price rose by US70 cents or 1.1% to US$62.01 a barrel. And the US Nymex rose by US23 cents or 0.4% to US$51.51 a barrel. Over the week Brent fell by 2% and Nymex fell by 2.7%

Base metal prices fell by up to 1.3% on Friday with aluminium down the most. But nickel went against the trend, up 0.3%. Over the week metals rose by up to 2.2%, led by nickel. But zinc bucked the trend, down 1.9%.

The gold futures price rose by US80 cents an ounce or 0.1% to $1,345.30 an ounce. The spot gold price was trading near US$1,341 an ounce in late US trade. Over the week gold fell by US80 cents or 0.1%. Iron ore fell by US80 cents or 0.7% to US$109.40 a tonne. Over the week iron ore rose by US$11.05 or 11.2%.

CommoditiesCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Oil Brent62.1562.010.140.23-13.93
Oil - West Texas crude52.5952.510.080.15-16.20
Gold Spot $/OZ1,341.001,342.00-1.20-0.094.94
Silver Spot $/OZ14.9014.900.00-0.053.10
Iron Ore103.70101.702.001.9618.14
Thermal Coal Newcastle71.4071.80-0.40-0.63-15.80
APAC Hard Coking Coal FOB192.00192.000.000.00-6.11
Aluminium ($US/t)1,7331,756-23.00-1.32-4.45
Copper Mar-18 ($US/lb)2.642.630.600.23-4.09
Lead ($US/t)1,8761,898-22.00-1.155.07
Nickel ($US/t)11,79211,76230.000.26-1.01
Zinc ($US/t)2,5622,584-22.00-0.83-5.59
Tin ($US/t)19,35619,533-177.00-0.91-3.24
Uranium ($US/lb)24.0025.000.00-1.61-0.81
Australian Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
ASX All Ords6,6346,61915.000.222.68
S&P/ASX 2006,5546,54212.000.182.96
ASX 24 Futures6,565
Australian Market Report

Friday 14 June - close. The Australian share market has treaded water for a second straight day as both energy and tech stocks dipped while health care shares rebounded. The benchmark S&P/ASX200 index closed down 1.3 points, or 0.02 per cent, to 6,542.4 points at 1615 AEST on Thursday, while the broader All Ordinaries was down 9.8 points, or 0.15 per cent, to 6,619.1.

Ashanti Headlines

ARC Exploration Ltd (to be renamed Cyprium Metals Limited): (ARX.ASX, 20cps, m.cap A$8.9m with 44.7m SOI, Cash c$4m, Copper Developer)

  • ARC Exploration has completed the acquisition of 100% of the issued capital of Cyprian Australia Pty Ltd. Cyprium is a privately-owned Australian mineral exploration company founded by Gary Comb, Barry Cahill, Wayne Apted, Peter van Luyt
  • Pursuant to an agreement between Cyprium and Musgrave Minerals Limited (ASX: MGV) (“MGV”), MGV has granted Cyprium an option to earn-in and joint venture for an 80% interest in the non-gold rights over the tenements at the Cue Copper Project.
  • The Cue Copper Project includes existing Mineral Resources at Hollandaire (~38Kt of contained Copper) and multiple high priority drill targets 
  • Cyprium will seek to rapidly increase scale of Mineral Resources whilst undergoing metallurgical test work at the Hollandaire Copper Project while continuing to assess a range of opportunities in the Australian copper space
  • Mr. Gary Comb and Mr. Barry Cahill have been appointed to the Board as Non-Executive Chairman and Executive Director respectively
  • As approved at the Company’s Annual General Meeting on 29 May 2019, the Company will be renamed ‘Cyprium Metals Limited’ and its shares will trade under the ASX code CYM. 
  • Please contact the desk on +61 8 6169 2668 should you wish to discuss further

Have a question? admin@ashanticapital.com.au

ERA Communications