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05 July 2019 06:50 AM
Overseas Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Dow Jones Industrial Average26,96626,787179.000.676.45
S&P 5002,9962,97323.000.776.87
NASDAQ8,1708,10961.000.758.54
FTSE 100 Index7,6047,609-6.00-0.085.31
DAX 3012,630014.000.115.42
CAC 40 Index5,6215,6192.000.036.21
Nikkei 225 (Japan)21,70221,63864.000.304.46
HKSE28,79628,855-59.00-0.217.07
SSE Composite Index3,0053,015-10.00-0.335.03
S&P/TSX Composite Index16,58916,57613.000.082.32
NZ 5010,56510,5586.000.066.11
US Volatility (Vix)13
Overseas Market Report

US sharemarkets were closed on Thursday for Independence Day. On Wednesday the Dow Jones rose by 179 points or 0.7% to a record high. The S&P500 lifted by 0.8% to a record high and the Nasdaq was up 61 points or 0.8% to a record high.

Global oil prices were lower on Thursday. Reuters reported: "Trading volumes were light due to the July 4 holiday in the United States. Markets appeared largely unmoved by the detention by British Royal Marines of a supertanker in Gibraltar possibly carrying Iranian crude oil bound for Syria, as tensions between Iran and the United States have flared over mysterious attacks on tankers in the Gulf of Oman in recent months." The Brent crude price fell by US52 cents or 0.8% to US$63.30 a barrel. And the US Nymex price fell by US54 cents in after hours trade or 0.9% to US$56.80 a barrel. 

Base metal prices were mixed on the London Metal Exchange (LME) on Thursday. Zinc fell by 2.3%. Copper, lead and nickel were flat. Tin rose 0.3% and aluminium rose 1.1%. 

The spot gold price was trading near US$1,416 an ounce in late US trade, down US$2 on the day before. Iron ore fell by US$4.05 or 3.2% to US$122.30 a tonne.

CommoditiesCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
Oil Brent63.3063.82-0.52-0.812.15
Oil - West Texas crude56.8957.34-0.45-0.7810.08
Gold Spot $/OZ1,422.001,416.005.600.396.86
Silver Spot $/OZ15.3015.300.000.243.50
Iron Ore117.00116.400.700.5618.54
Thermal Coal Newcastle77.0072.804.305.844.98
APAC Hard Coking Coal FOB184.80185.00-0.25-0.14-5.74
Aluminium ($US/t)1,7841,76520.001.101.33
Copper Mar-18 ($US/lb)2.672.68-0.40-0.171.98
Lead ($US/t)1,8641,865-1.00-0.030.85
Nickel ($US/t)12,27012,272-2.00-0.014.36
Zinc ($US/t)2,4342,493-59.00-2.35-6.71
Tin ($US/t)18,35818,30355.000.30-4.66
Uranium ($US/lb)24.0024.000.000.002.08
Australian Market ReportCurrent
Level
PreviousChangeDaily %
Change
Monthly %
Change
ASX All Ords6,8016,77031.000.455.54
S&P/ASX 2006,7186,68533.000.495.65
ASX 24 Futures6,660
Australian Market Report

Thursday 04 July - close. The ASX 200 rose by 32.5pts or 0.49 per cent to 6718, lifting for a fourth day thanks to gains from banks, CSL Limited (CSL) and property stocks. The market hit a fresh 11.5-year high this morning and finished the day just 133pts or 1.8 per cent from all-time highs. Gains were broad today with seven in every ten stocks improving. Banks led the improvements, recouping most of their losses post RBA rate cut. Lower rates can negatively impact bank margins as the difference between home loan rates and deposits narrow.

Ashanti Headlines

Bye Aerospace - Live US$5m Capital Raise and Conference Call | First fully FAA certified electric aircraft in the world | 2021 NASDAQ IPO

  • Bye Aerospace (“Bye”) is conducting a capital raising by way of a Series A2 Preferred Stock Offering to raise US$5m. Please reach out should you want a copy of the term sheet.
  • By way of background, Bye Aerospace has developed and is in the process of obtaining FAA certification for the world’s first, commercially certified electric aircraft called the eFlyer 2 - https://byeaerospace.com/
    • George Bye, Founder and CEO of Bye Aerospace has assembled an impressive team of experienced senior aviation executives, business, legal and investment professionals including COO Charles B. Johnson (former President of Cessna), CFO Paul McAuliffe (former Principle at Morgan Stanley, CS First Boston), SVP, Gen Counsel John Knudsen (former FAA attorney) & VP Strategy & BD Tom Calgaard (ex-Lockheed Martin Head of Strategy & BD). 
    • Bye has an agreement with Rolls Royce (which purchased Siemens’ electric/hybrid propulsion business two weeks ago and is the second largest manufacturer of aircraft engines after GE) to provide the electric propulsion motor plus inverter and Garmin for the supply of avionics. 
    • The eFlyer 2 has seen strong initial demand from industry, with over 605 combined customer commitments and options representing over US$200m backlog. 
    • Bye remains on track to achieve its target of FAA certification by the end of 2021 which will coincide with a listing on the NASDAQ. 

  • Ashanti has arranged a call with George Bye for 8.00am AWST Tuesday 9th July (10.00am AEST). Please reach out or contact your adviser on +61 8 6319 7807 should you wish to join the call.

     


Have a question? admin@ashanticapital.com.au

ERA Communications